{"id":6501,"date":"2013-03-27T07:37:37","date_gmt":"2013-03-27T12:37:37","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6501"},"modified":"2013-03-27T07:37:37","modified_gmt":"2013-03-27T12:37:37","slug":"before-the-open-mar-27-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6501","title":{"rendered":"Before the Open (Mar 27)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. China dropped 1.1%; Australia, Indonesia, Malaysia and New Zealand rallied 0.8% or more. Europe is currently down across-the-board. Greece is down 4%, France 2% and Belgium, Germany, Amsterdam, Spain, Italy and the Czech Republic more than 1%. Futures here in the States point towards a moderate gap down open for the cash market.
\n<\/span>
\nThe dollar is up. Oil and copper are down. Gold and silver are down. <\/span>
\nYesterday the market gapped up, traded range bound and then rallied into the close. It was a good day, but it lacked enthusiasm. Here’s the 10-min SPX chart. The range continues. The market trends, the market chops. Unfortunately for us traders who want movement, it spends more time chopping than trending. That’s just the way it goes. Trading is and always will be a “take what the market gives you” endeavor. It’s like sports. The type of swing you take when the pitcher throws you a belt-high fastball is different than when he throws you curve at your knees. As the market changes from one personality to another, we must make slight adjustments. <\/span>
\n\"\"
\nAlthough the S&P closed near the top of its range, it’ll take a pretty good up day to bust out today because as of now, the indexes will gap down about 8 points at today’s open. <\/span>
\nThe market is closed Friday, so tomorrow is likely to be dead. That doesn’t leave much time for a convincing move.<\/span>
\nCypriot central bank chief Panicos Demetriades says upwards of 40 percent of uninsured deposits at the Bank of Cyprus could be lost, and 80 percent of uninsured deposits at Laiki could be wiped out. Amazing.<\/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