{"id":5506,"date":"2012-04-05T07:23:40","date_gmt":"2012-04-05T12:23:40","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5506"},"modified":"2012-04-05T07:23:40","modified_gmt":"2012-04-05T12:23:40","slug":"before-the-open-apr-5-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5506","title":{"rendered":"Before the Open (Apr 5)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China rallied 1.7%; Hong Kong and Taiwan dropped 1% or more. Except for Amsterdam (up 0.9%), Europe is down across the board. Belgium, Germany and Norway are down 1% or more. Futures here in the States point towards a down open for the cash market.
\n<\/span>
\nThe dollar is up. Oil and copper are up. Gold and silver are up.<\/span>
\nHere’s the 15-min SPX chart I’ve been posting all week. The week began with the long term trend being up and the short term trend being neutral (the indexes were in consolidation mode). First the top of the range was tested, then the bottom, and in my opinion, the long term trend is still up and the short term trend is still neutral. <\/span>
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\nBut as of now, today’s open will be below yesterday’s low, so the market is in danger of losing its range and officially being considering in a short term downtrend. Play good defense. Don’t be a hero out there. We’ve had a really good run the last few months…lots of good set ups. But the market doesn’t move uninterupted in one direction. Maybe it has topped and a full-blown correction is underway. Or maybe it’ll just pull back a little to allow the charts to reset. Who knows. Your job is to enter good positions under the right conditions and then play good defense. More after the open.<\/span>
\n(Oh and if you’re wondering about the tendency to move in a certain way before Good Friday, don’t. The indexes have been all over the map the last couple years.)<\/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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