{"id":5441,"date":"2012-03-14T07:34:04","date_gmt":"2012-03-14T12:34:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5441"},"modified":"2012-03-14T07:34:04","modified_gmt":"2012-03-14T12:34:04","slug":"before-the-open-mar-14-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5441","title":{"rendered":"Before the Open (Mar 14)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Wednesday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mostly up. China dropped 2.6%; Indonesia, Japan, singapore and Taiwan rallied more than 1%. Europe is currently up across the board. Austria and Germany are up more than 1%. Futures here in the States point toward a flat open for the cash market.<!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is up. Oil and copper are down. Gold and silver are down more than 1%.<\/span><br \/>\n<span style=\"font-size: medium;\">The Fed spoke yesterday, but the big news came from JP Morgan where they&#8217;ll be raising their dividend and doing a $12 billion buyback. The news vaulted $BKX through the resistance level I&#8217;ve been tracking for about two weeks and also pushed the financials (XLF) through their own resistance. Oh and the two banking stocks that are on the Long List (BAC and C) did great. Here are the charts.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/bkx031312.png\" alt=\"\" \/><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/xlf031412.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">And here are the daily index charts. You can&#8217;t argue with or fight these. A steady uptrend was followed by about 6 weeks of consoliation and now we have continuation breakouts. The small caps are still lagging. I would consider it a yellow flag if the Russell can&#8217;t make it&#8217;s own new high, but I still wouldn&#8217;t take a position opposite this movement.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/pm\/index031312.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">The market tends to reverse its post-Fed move the next day. Obviously yesterday was super bullish. If history holds, the market will give back some of those gains today. If a give-back happens, I fully expect it to be bought and new highs to be made again. 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=5429\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5431\">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 Wednesday. The Asian\/Pacific markets closed mostly up. China dropped 2.6%; Indonesia, Japan, singapore and Taiwan rallied more than 1%. Europe is currently up across the board. Austria and Germany are up more than 1%. Futures here in the States point toward a flat open for the cash market.<\/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\/5441"}],"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=5441"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5441\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}