{"id":5542,"date":"2012-04-18T07:34:43","date_gmt":"2012-04-18T12:34:43","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5542"},"modified":"2012-04-18T07:34:43","modified_gmt":"2012-04-18T12:34:43","slug":"before-the-open-apr-18-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5542","title":{"rendered":"Before the Open (Apr 18)"},"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 up across the board. China and Japan rallied 2%; Australia, Hong Kong, New Zealand and Malaysia rallied 1%. Europe is currently down across the board. Austria, France, Amsterdam and Stockholm are down more than 1%. Futures here in the States point towards a flat-to-down open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is up. Oil is flat; copper is down. Gold and silver are down. <\/span><br \/>\n<span style=\"font-size: medium;\">The market put in a big up day yesterday and closed at its highest level since the unemployment data was released 1-1\/2 weeks ago. Here&#8217;s an update of the 60-min SPX chart. Allowing for a little wiggle room, this chart has bearish implications, but a continuation of the move up right now would neutralize the chart and hint at a large range rather than a break of support followed by a rising wedge.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx041812.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Yesterday INTC and IBM dropped after releasing earnings. Before today&#8217;s open they&#8217;re trading down 2.6% and 1.7% respectively. <\/span><br \/>\n<span style=\"font-size: medium;\">When the week began there were very few good long set ups to be had and a nice basket of shorts to pick from. Now, two days later, charts of individual stocks have neutralized. There are some shorts and some longs and definitely no clear bias.<\/span><br \/>\n<span style=\"font-size: medium;\">Things are not very clear in the near term. We&#8217;ve had some ups and down, and as of now, the market is unchanged over the last five weeks. <\/span><br \/>\n<span style=\"font-size: medium;\">Play good defense. 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=5530\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5532\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.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[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Wednesday. The Asian\/Pacific markets closed up across the board. China and Japan rallied 2%; Australia, Hong Kong, New Zealand and Malaysia rallied 1%. Europe is currently down across the board. Austria, France, Amsterdam and Stockholm are down more than 1%. Futures here in the States point towards a flat-to-down open for 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\/5542"}],"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=5542"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5542\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}