{"id":6233,"date":"2012-12-14T08:30:44","date_gmt":"2012-12-14T13:30:44","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6233"},"modified":"2012-12-14T08:30:44","modified_gmt":"2012-12-14T13:30:44","slug":"before-the-open-dec-14-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6233","title":{"rendered":"Before the Open (Dec 14)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China rallied over 4%. Hong Kong also did well while Taiwan dropped. Europe is currently mixed; there are no big winners or losers. Futures here in the States point towards an up open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil and copper are up. Gold and silver are down.<\/span>
\nThe market is virtually unchanged this week. It moved up for 2+ days and then moved down for 1+ day. We entered the week in need of a little rest, and other than taking out a resistance level and then quickly losing the same level, a rest is exactly what we’ve gotten. Here’s the 60-min S&P chart. <\/span>
\n\"\"
\nAs mentioned above, China rallied better than 4%. Their Purchasing Managers’ Index for December rose to a 14-month high – the single biggest percentage gain since Oct 2009.<\/span>
\nThere isn’t much company specific news out in the US.<\/span>
\nMy stance remains the same. I’m cautiously bullish and prefer the upside overall, but in the very near term there are enough cross-currents to keep me from going all in. I looked at 1000 charts last night. I found a few decent short set ups and a small handful of longs but not enough to believe a big rally was right around the corner. There just aren’t that many charts nicely set up to bust out and run. <\/span>
\nPlay good defense. More 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>
\n