{"id":5305,"date":"2012-02-02T08:45:05","date_gmt":"2012-02-02T13:45:05","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5305"},"modified":"2012-02-02T08:45:05","modified_gmt":"2012-02-02T13:45:05","slug":"before-the-open-feb-2-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5305","title":{"rendered":"Before the Open (Feb 2)"},"content":{"rendered":"

Good morning. Happy Thursday. <\/span>
\nThe Asian\/Pacific markets closed mostly up. China and Hong Kong rallied 2%. Australia, Indonesia, South Korea and Taiwan gained more than 1%. Europe is currently mixed. There are no 1% movers. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\nThe dollar is up. Oil and Copper are down. Gold and silver are flat.<\/span>
\nYesterday the Nas and Russell made higher highs while the Dow and S&P did not. The divergence means little on a very short term basis but can’t persist for long if the trend is to continue. <\/span>
\nAs the market grinds higher, I’m finding myself having less and less to talk about because nothing seems to effect the price action. When indicators get ignored, the character of the market is changing…that’s what been happening. Overbought is staying overbought, and those who guess tops or are in denial and aren’t long aren’t happy right now. Sometimes you gotta lower your guard and not think too much. <\/span>
\nHere’s the 5-min SPX chart I posted two days ago. The red median line set is proving to be significant, so until it stops working, I’ll continue to watch for the price action to turn at the lines or at sliding parallels. <\/span>
\n\"\"
\nI’ll have more to say after the open. Right now I’m drawing a blank.<\/span>
\nEmployment numbers come out tomorrow before 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