{"id":5844,"date":"2012-07-30T07:46:29","date_gmt":"2012-07-30T12:46:29","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5844"},"modified":"2012-07-30T07:46:29","modified_gmt":"2012-07-30T12:46:29","slug":"before-the-open-jul-30-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5844","title":{"rendered":"Before the Open (Jul 30)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly up. India and Singapore rallied > 1%; China dropped 0.9%. Europe is currently up across the board. Greece is up 2%; Austria is up 1.5%. Futures here in the States point towards a 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 significant to add to the report I posted over the weekend. The market can’t make up its mind. It goes straight up or straight down, and every reversal is sudden. We must be ahead of the curve taking profits because the use of a trailing stop will often result in a big chunk of gains being wiped out. <\/span>
\nThe market was weak Mon, Tues and Wed last week and strong Thurs and Fri. The Dow and S&P are at higher highs. The Nas, small caps and mid caps are lagging. Energy is at a higher high; the financials and tech are lagging. The market took a step in the up direction last week, and a few indicators support the move, but there’s lots of proving to do. There are numerous divergences that need to be negated. Here’s the large, small and mid caps. When the market is healthy, money flows into the small and mid caps. It’s not happening to the same degree as the large caps; this needs to change. <\/span>
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\nThe charts improved significantly at the end of last week. Some pretty good set ups emerged Thurs and Friday. To me, this is important because I’m a “bottoms up” researcher. Even though I look at the index charts, I think they mask what’s really happening, so I prefer to look under the hood to get a diagnosis. <\/span>
\nNews wise this week is huge in the US. Besides earnings season being in full swing, there’s an FOMC meeting Wednesday and the latest employment numbers get released Friday.<\/span>
\nThere aren’t any noteable premarket movers. <\/span>
\nMore 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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