{"id":6630,"date":"2013-05-08T07:08:21","date_gmt":"2013-05-08T12:08:21","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6630"},"modified":"2013-05-08T07:08:21","modified_gmt":"2013-05-08T12:08:21","slug":"before-the-open-may-8-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6630","title":{"rendered":"Before the Open (May 8)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Australia, Hong Kong, Indonesia, Singapore and Taiwan did well. Europe is currently mostly up. Greece is up 7.4%; Stockholm, Austria, France, Germany and Switzerland are also doing well. Futures here in the States suggest a flat open for the cash market.<\/span>
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\nThe dollar is down. Oil is down slightly, copper is up. Gold is up, silver is down. <\/span>
\nThe indexes continued to climb yesterday. The S&P has rallied 11 of 13 days and is 85 points off its low hit just a couple weeks ago. Except for the Nas and Nas 100, all the indexes closed at new all-time highs. Here are the daily charts. We’re in no-man’s land.<\/span>
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\nNo matter how you pick up the market and spin in different directions, the only conclusion you can reach is that the trend is solidly up. Period. With so many TV stations covering the market, hundreds of newspapers and magazines, thousands of websites, it’s easy to get carried away and over-analyze every little move, every little nuance, every little everything. But sometimes you gotta call a bull market a bull market and stop asking questions. <\/span>
\nThe current rally won’t continue much longer without taking a break. But a break will be a chance to dump laggards in exchange for new set ups that have greater potential going forward. <\/span>
\nFor those who say the market is floating higher because the Fed is flooding the market with money, I agree with you. The growth we’re seeing isn’t organic, and at some point in time the Fed will raise rates and start to ease off accommodation. Until then, don’t fight the trend. 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>
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