{"id":479,"date":"2009-05-01T06:30:02","date_gmt":"2009-05-01T11:30:02","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=479"},"modified":"2009-05-01T06:30:02","modified_gmt":"2009-05-01T11:30:02","slug":"before-the-open-49","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=479","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Friday.
\nThe intermediate term trend is up, but we must recognize the possibility yesterday was a false breakout or bull trap \u2013 a new high that suckers in late-to-the-party bulls before the selling begins.
\nHere\u2019s the daily SPX chart. There\u2019s nothing wrong with it. We got a solid move off the low, and for the last six weeks, it\u2019s been 2 steps forward, 1 step back. It\u2019d be easier of the market would rally steadily and then consolidate for a couple weeks before breaking out again, but oh well. We don\u2019t get to call the shots.
\n
\nApril is in the books, so the end of the traditionally strong Nov \u2013 Apr time period has come.
\nI\u2019ve been day trading only the last 10 days. It\u2019s not my style; I\u2019d rather enter and let positions run for a few days or weeks, but I\u2019m not very comfortable holding long when the overall trend is down and the market has rallied 30% off it lows. Simple as that. We had several dozen great breakout plays over the last 2 months, and I\u2019m just being a little cautious during the grinding period.
\nWith the SPX\u2019s proximity to 875 (maybe that level is meaningless, don\u2019t know) and the Bollinger Bands narrowing, I\u2019m still of the opinion we have a big move coming. A squeeze that gets us well into the 900s or a sell-off that puts us back near 800.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch MarketWatch<\/a><\/a>
\nupgrades\/downgrades<\/a>
\nearnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Friday. The intermediate term trend is up, but we must recognize the possibility yesterday was a false breakout or bull trap \u2013 a new high that suckers in late-to-the-party bulls before the selling begins. Here\u2019s the daily SPX chart. There\u2019s nothing wrong with it. We got a solid move off the low, […]<\/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":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/479"}],"collection":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=479"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/479\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=479"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}