Before the Open (Aug 27)

Posted on by Jason Leavitt

Good morning. Happy Friday.
The Asian/Pacific markets closed mixed. Europe is currently mixed with very little overall movement. Futures here in the States point towards a relatively small gap up open for the cash market.
Yesterday wasn’t what the bulls were hoping for. The small caps finally led…the small caps held their previous day’s low while the other indexes took out their previous day’s low…the S&P had bounced off 1040. The stage was set for a counter move even though we didn’t get the washout we were looking for, but it wasn’t to be. A gap up open and early strength diffused whatever pent up buying pressure there was, a high was established early and it was down down down all day after that. The market feels fragile here. In the past the bulls needed to step up to maintain the uptrend. Now they need to step up to prevent an all out route. The market, although range bound for almost 4 months, is close to melting down. But if the S&P can hold 1040, then the neutral sideways movement can continue.
Here’s the SPX daily. More after the open.

headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers

0 thoughts on “Before the Open (Aug 27)”

  1. Turn Cycle Dates 2010:
    8/30,8/31……and 9/1 to 9/7 (bullish)
    Bradley Model Turn Cycle Date 9/11 (bearish)
    McHugh Phi Mate Dates 9/1 (bullish) 9/11 (bearish)

  2. Hi Neal!
    I recently bought a Dell computer at Best Buy that I am very happy with.
    Although, I must say that BB customer service is not really all that great.
    The computer got infected with viruses using their house brand Kaspersky
    antivirus program and then they charged me $129 dollars to remove those viruses.
    Ps. Stay away from those porno websites if you want to keep your computer safe.

  3. You guys are something else.
    If I put you two clowns with 1 contract to day trade the TF e-mini futures, you’d both be assuming the fetal position inside of 2 weeks.
    Weinstein, you’re not too bright. If you want to continue your “porn creep” hobby when you’re not selling Dow 12000 T-Shirts or getting traders dumber than you to buy your worthless technical analysis ramblings, you run Ubuntu Linux in a Virtual Box session. You DON’T rely on an anti-virus program to protect your PC against known harmful websites.
    …But then again, I’m talking to someone who buys a laptop at Best Buy instead of Newegg.
    Honestly Jason, I hope you’re making a buck off of these two…like stealing candy from babies.

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