{"id":5497,"date":"2012-04-02T07:27:59","date_gmt":"2012-04-02T12:27:59","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5497"},"modified":"2012-04-02T07:27:59","modified_gmt":"2012-04-02T12:27:59","slug":"before-the-open-apr-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5497","title":{"rendered":"Before the Open (Apr 2)"},"content":{"rendered":"

Good morning. Happy Monday. Happy April. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mixed. Indonesia (up 1.1%) was the only 1% mover. China, India, Japan and Singapore moved up; Taiwan moved down. Europe is currently mostly down, but there are no 1% movers. Futures here in the States point towards a slight down open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil is down, and copper is up. Gold is down, and silver is up.<\/span>
\nI don’t have anything to add to my weekend report. The overall trend is up; the short term trend is neutral. With the latest employment report coming out this Friday and earnings season right around the corner, I wouldn’t be surprised if the market chopped around for a couple more weeks. If this scenario plays out, being ahead of the curve taking profits will be important. Once you get a decent move, take half off. There’s no sense risking a 5-10% gain if the market is going to roll around and not get much follow through.<\/span>
\nHere’s the shorter term chart I’m working from. After a steady rally that went back to mid December, the S&P settled into a range that has persisted for two weeks. Friday’s close is smack in the middle of the range. <\/span>
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\nDon’t over analyze the market. It’s doing well overall and is currently resting. Know what time frame you’re trading before you enter a position. 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>
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