{"id":6559,"date":"2013-04-18T07:37:18","date_gmt":"2013-04-18T12:37:18","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6559"},"modified":"2013-04-18T07:37:18","modified_gmt":"2013-04-18T12:37:18","slug":"before-the-open-apr-18-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6559","title":{"rendered":"Before the Open (Apr 18)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Thursday.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed and with a bearish bias. Australia, Japan and South Korea dropped more than 1%. India rallied 1.5%. Europe is currently mostly up. Greece, France, Norway and Switzerland are posting the biggest gains. Futures here in the States point towards a gap up open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is down. Oil is up, copper down. Gold and silver are down. <\/span><br \/>\n<span style=\"font-size: medium;\">The market got hit hard yesterday. I said it yesterday, and I&#8217;ll say it again now. The market is walking a very fine line here. So far, the drop off the high is very acceptable in terms of duration and points. But if it lasts much longer or drops much further, it will be a different type of drop. Instead of being a pullback within an uptrend, it&#8217;ll turn into a full-blown correction.<\/span><br \/>\n<span style=\"font-size: medium;\">I&#8217;m all for a correction. I still like the market for 2013, so in my opinion, lower prices will allow us to buy stocks at lower prices. Nothing wrong with that. <\/span><br \/>\n<span style=\"font-size: medium;\">Here are the daily charts. We got a warning last week when all the indexes hit higher highs but the small caps failed to match the movement. Now the Russell small caps and S&amp;P mid caps are breaking support and making lower lows.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/index041813.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">All signs point towards more weakness. The lagging small and mid caps. Leaders are not leading. Key groups are lagging. Key breadth indicators suggest internal weakness. There isn&#8217;t much for the bulls to hang their hats on. From a technical standpoint, I don&#8217;t like the current situation. <\/span><br \/>\n<span style=\"font-size: medium;\">Preserve capital. Don&#8217;t be a hero. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/index.php\/2013\/04\/13\/earnings-apr-15-19\/\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/index.php\/2013\/04\/13\/economic-numbers-apr-15-19\/\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Thursday. The Asian\/Pacific markets closed mixed and with a bearish bias. Australia, Japan and South Korea dropped more than 1%. India rallied 1.5%. Europe is currently mostly up. Greece, France, Norway and Switzerland are posting the biggest gains. Futures here in the States point towards a gap up open for the cash [&hellip;]<\/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\/6559"}],"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=6559"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/6559\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}