{"id":5847,"date":"2012-07-31T07:39:28","date_gmt":"2012-07-31T12:39:28","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5847"},"modified":"2012-07-31T07:39:28","modified_gmt":"2012-07-31T12:39:28","slug":"before-the-open-jul-31","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5847","title":{"rendered":"Before the Open (Jul 31)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. South Korea gained 2.1%; Hong Kong, Indonesia and Taiwan rallied beter than 1%. Europe is currently mixed. Belgium is up 4.6% and Austria is down 1%. France is flat. Germany is up; London is down. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil and copper are up. Gold and silver are up.<\/span>
\nYesterday was a dud. The market didn’t move up, and volume was very light. And things may not pick up until tomorrow. Still to go this week are interest rate announcements from the Fed, ECB and the Bank of London and the latest employment data. And of course lots more earnings reports.<\/span>
\nThere isn’t much influential news out from overseas. India left their interest rate unchanged at 8% and cut its growth outlook from 7.3% to 6.5%.<\/span>
\nThe unemployment rate in Germany has moved up four straight months. <\/span>
\nChina’s stock market is at a 3-year low.<\/span>
\nDeutsche Bank’s profit dropped 63%. They’re laying off 1500 workers.<\/span>
\nThanks to two huge up days last Thursday and Friday, the bulls are breathing again. The move has given the bulls a cushion to work with (they have room for error, not every piece of news is live or die), but from a technical standpoint, one big divergence remains in place. That’s the progress of the large caps vs. the small and mid caps. When the market is healthy, when investors are confident, they buy more speculative stocks which have the potential to rally several hundred percent, not the rock-solid old-school companies which serve as safe-havens. So far, this isn’t happening. Recently, when the large caps made a higher high, the small and mid caps failed to match the move. This condition must be negated or there will be limited further upside. Here’s a chart of the S&P 500, Russell 2000 and S&P 400.<\/span>
\n\"\"
\nThis is the lull before the storm. There are several big news items still to come this week. <\/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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Tuesday. The Asian\/Pacific markets closed mostly up. South Korea gained 2.1%; Hong Kong, Indonesia and Taiwan rallied beter than 1%. Europe is currently mixed. Belgium is up 4.6% and Austria is down 1%. France is flat. Germany is up; London is down. Futures here in the States point towards a positive open […]<\/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\/5847"}],"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=5847"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5847\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}