{"id":5273,"date":"2012-01-23T08:36:24","date_gmt":"2012-01-23T13:36:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5273"},"modified":"2012-01-23T08:36:24","modified_gmt":"2012-01-23T13:36:24","slug":"before-the-open-jan-23","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5273","title":{"rendered":"Before the Open (Jan 23)"},"content":{"rendered":"

Good morning. Happy Monday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. China, Singapore and South Korea each rallied more than 1%. Europe is currently up across the board. Only Austria (up 1.9%) is up more than 1%. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\nThe dollar is down. Oil and Copper are up. Gold and silver are up. <\/span>
\nI don’t have anything to add to the comments I made over the weekend in the Index Report and Video I posted Sunday morning. Forget back and forth movement, the market is just going up and up and up. Every dip gets bought. Every gap down gets bought. The S&P has moved up 19 of 24 days. When the market gets in this type of mood, when the market has a one-track mind, day-to-day indicators do not work. Everything gets ignored; prices just keep grinding higher. That’s what been happening. I would not fight it, but at the same time I would not assume it will continue uninterrupted. Sooner or later a pullback will materialize, and when it doesn’t I expect it to be relatively short-lived. The indicators are telling me higher prices will follow after a rest.<\/span>
\nA few other things…<\/span>
\nEarnings season is here. GOOG serves as a reminder to not hold into an earnings report no matter how strong the company or stock is.<\/span>
\nWe have an FOMC meeting Wednesday. I think it’s an irrelevant event, but as always the media will be fixated on it, so trading will slow down ahead of the announcement. <\/span>
\nI remain cautiously bullish in the near term and bullish in the intermediate term. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n