{"id":5302,"date":"2012-02-01T08:36:30","date_gmt":"2012-02-01T13:36:30","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5302"},"modified":"2012-02-01T08:36:30","modified_gmt":"2012-02-01T13:36:30","slug":"before-the-open-feb-1-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5302","title":{"rendered":"Before the Open (Feb 1)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy February.<\/span>
\nThe Asian\/Pacific markets closed mixed. China dropped 1.1% – it was the only 1% mover. Europe is currently up across the board. Austria, Belgium, France, Germany, Amsterdam, Stockholm, Switzerland and London are each posting solid gains. Futures here in the States point towards a moderate gap up open for the cash market. <\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up.<\/span>
\nThe market hasn’t done much the last two weeks. As of yesterday’s close the S&P is unchanged since Jan 19, and as of today’s open it’ll be unchanged since the 23rd. We’ve had some ups and downs, some sell-offs and rallies, some gap downs and gap ups, and in the end it seems like price is correcting with the passage of time rather than a drop in prices. <\/span>
\nOverall things look good. The right groups are leading, and the safe havens are lagging. The small caps and tech stocks are doing well. Leadership stocks (most of them) are doing their job. Some cyclical indicators are diverging from the price action or at extremes – this continues to tell us to be careful in the near term, but longer term indicators tell us there’s room to move on the upside. Perhaps a pullback will materialize or maybe we’ll get more of this sideways churn stuff. In either case I expect higher highs to be made. Absent bad news from Europe, the market is not going to just roll over here. 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