{"id":5422,"date":"2012-03-08T08:39:25","date_gmt":"2012-03-08T13:39:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5422"},"modified":"2012-03-08T08:39:25","modified_gmt":"2012-03-08T13:39:25","slug":"before-the-open-mar-8-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5422","title":{"rendered":"Before the Open (Mar 8)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Thursday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly up. Japan and Singapore rallied 2%; China, Hong Kong, South Korea and Taiwan gained at least 1%. Europe is currently up across the board. Stockholm, France and Germany are up 2%; Austria, Belgium, Amsterdam, Norway and London are up at least 1%. Futures here in the States point towards a sizeable gap up open for the cash market.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is down a bunch. Oil and copper are up. Gold and silver are up.<\/span><br \/>\n<span style=\"font-size: medium;\">The reason for the giddiness? Positive news from Greece. This allows markets around the word to breathe a sigh of relief (at least in the near term) and it props the euro up and puts pressure on the dollar.<\/span><br \/>\n<span style=\"font-size: medium;\">As of now, the loss the S&amp;P suffered on Tuesday will be recaptured at today&#8217;s open. Here&#8217;s the daily chart. Support was found at 1340 &#8211; a level that supported prices in early February.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx030812.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Long term I still believe the trend is solidly up, and we&#8217;ll see higher prices. In the near term things are less clear. Tuesday was one measely down day. The market can certain recover quickly from it. But there are still many indicators that would benefit from more downside &#8211; I&#8217;d rather the indicators drop to low levels before reversing. Technically that would lay a better foundation for the market&#8217;s next leg up.<\/span><br \/>\n<span style=\"font-size: medium;\">Tomorrow before the open we get the latest jobs report. It could be another large opening gap.<\/span><br \/>\n<span style=\"font-size: medium;\">In the near term I going to continue playing it safe. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5408\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5410\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Thursday. The Asian\/Pacific markets closed mostly up. Japan and Singapore rallied 2%; China, Hong Kong, South Korea and Taiwan gained at least 1%. Europe is currently up across the board. Stockholm, France and Germany are up 2%; Austria, Belgium, Amsterdam, Norway and London are up at least 1%. Futures here in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5422"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5422"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5422\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}