{"id":5654,"date":"2012-05-25T07:37:44","date_gmt":"2012-05-25T12:37:44","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5654"},"modified":"2012-05-25T07:37:44","modified_gmt":"2012-05-25T12:37:44","slug":"before-the-open-may-25-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5654","title":{"rendered":"Before the Open (May 25)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed and with a bearish bias. Indonesia dropped 2.1%; nothing else moved more than 1%. Europe is currently mixed. Greece is down 1.2%; there are no other 1% movers. Futures here in the States point towards a flat open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is flat. Oil and copper are up. Gold is up, silver down.<\/span><br \/>\n<span style=\"font-size: medium;\">The market is closed on Monday for Memorial Day, so we have a 3-day weekend ahead of us.<\/span><br \/>\n<span style=\"font-size: medium;\">The market has been all over the map this week. It rallied Monday&#8230;continued the rally early Tuesday but then sold off into the close&#8230;continued the sell-off early Wednesday and then reversed mid day and rallied (this marked a successful test of the lows)&#8230;then yesterday the market was up early, sluggish for a big chunk in the middle of the day, the strong into close. We&#8217;ve gotten a couple ups and downs, and the net is a pretty good up week so far. It&#8217;s been heaven for day traders but frustrating for swing traders who prefer a directional move instead of the ups and downs.<\/span><br \/>\n<span style=\"font-size: medium;\">Europe still rules. At any time good or bad news can quickly induce a big sell-off or rally. The good news is the market is factoring in possible scenarios (if Greece leaves the EU, it won&#8217;t be a big surprise), and while clearing up the uncertainty would be a big boost, the problems can linger for a long time. Here&#8217;s the S&amp;P daily. A bounce to 1360 is doable if we don&#8217;t get bad news this weekend. Or we can get a continuation of the 30-point range that has formed the last six days.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx052512.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Be defensive here. The near term is unclear. Have a good day and a good long weekend.<\/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=5636\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5634\">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 Friday. The Asian\/Pacific markets closed mixed and with a bearish bias. Indonesia dropped 2.1%; nothing else moved more than 1%. Europe is currently mixed. Greece is down 1.2%; there are no other 1% movers. Futures here in the States point towards 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\/5654"}],"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=5654"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5654\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}