{"id":6515,"date":"2013-04-03T07:33:30","date_gmt":"2013-04-03T12:33:30","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6515"},"modified":"2013-04-03T07:33:30","modified_gmt":"2013-04-03T12:33:30","slug":"before-the-open-apr-3-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6515","title":{"rendered":"Before the Open (Apr 3)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. India dropped 1.3%, Japan rallied 3%. Europe is currently mixed. The Czech Republic is down 1.1%, Austria is up 2.1%. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nThe dollar is down slightly. Oil and copper are down. Gold is down, silver up.<\/span>
\nThe market dropped on Monday and then recaptured most of the gains on Tuesday. Yesterday was a good performance for the bulls because moving above resistance and then dropping back into the consolidation pattern increased the odds of a false breakout. When the bulls needed to step up, they stepped up. But it’s not enough. I’m not convinced. The long trend is solidly up – it takes weeks and sometimes months for the long term trend to change. In the intermediate term I’m less confident of the upside. There are too many indicators not supporting the price action. There are too many groups not matching the movement of the indexes. And of course the small caps are lagging. <\/span>
\nI like the market overall, but over the next couple weeks these divergences have to negated or else we’re likely to get a correction. The market can correct with price (the market will drop) or time (the market will continue moving sideways).<\/span>
\nWe should find out soon what the market’s next trending move is going to be. 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