{"id":5576,"date":"2012-04-30T07:42:50","date_gmt":"2012-04-30T12:42:50","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5576"},"modified":"2012-04-30T07:42:50","modified_gmt":"2012-04-30T12:42:50","slug":"before-the-open-apr-30-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5576","title":{"rendered":"Before the Open (Apr 30)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Hong Kong (up 1.7%) was the only 1% mover. Europe is currently mixed. France, and Amsterdam are down more than 1%. Futures here in the States point towards a relatively small gap down open for the cash market.
\n<\/span>
\nThe dollar is up. Oil and copper are down. Gold and silver are down.<\/span>
\nI don’t have anything to add to my weekend report. The long term trend remains up – this has been the case for several months. The intermediate term trend is neutral – as of the middle of last week the indexes were mostly flat over the previous two months, and other than a rally at the beginning of March and a sell-off at the beginning of April, it has been range bound since the beginning of February. The short term trend is up but getting over extended. Since last Monday’s open, the market has moved up five entire days.<\/span>
\nImportant groups improved a bunch last week, and many leading stocks did the same. There was also improvement from the breadth indicators. All in all it was a good week. Instead of the market being in a dangerous spot and investors being very nervous, at the very least, the market built itself a cushion, and the bulls can relax a little.<\/span>
\nTrading has been difficult lately because we have not always had an obvious and dominant trend to cling to. Rallies have gotten sold and dips bought. No move has lasted long, so unless you were ahead of the curve taking profits, you didn’t make nearly as much as you could. The market changes, and you have to change with it. Here’s a chart showing what I stated above. Other than a couple short-lived directional moves, the market has been range bound.<\/span>
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\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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