{"id":480,"date":"2009-05-11T06:30:03","date_gmt":"2009-05-11T11:30:03","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=480"},"modified":"2009-05-11T06:30:03","modified_gmt":"2009-05-11T11:30:03","slug":"before-the-open-50","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=480","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.
\nSo the market has gone from idiot mode to just not making any sense. It keeps going up and up and up. Every little dip gets bought. The Nas has now moved up 9 consecutive weeks, and the Dow, S&P and Russell 8 of 9. The market is embracing good news and ignoring bad news \u2013 this is typical of a strong market. How long this lasts is not something I know. I do know the trend is up, and I\u2019m not going to attempt picking a top. There are many bears out there losing lots of money trading what they think should happen rather than what is happening.
\nPer the daily SPX chart, our first target (925) was hit last week. Our second target is 975.
\n
\nPer the weekly chart, our target is 1100. I\u2019m not predicting it\u2019ll get there. I\u2019m just recognizing the possibility if the measured move off the low plays out.
\n
\nFutures are down a bunch right now; most of Friday\u2019s gains will be wiped out at the open. The banking group practically went vertical last week and is due for a rest. The semis were weak last Thursday and Friday. If the banks correct and the semis continue to drop, the market\u2019s upside will be capped.
\nThe trend is up, so my bias remains on the long side. But this isn\u2019t a great big bull market. That means I\u2019m erring on the side of taking profits too soon rather than letting the charts fully play out.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch MarketWatch<\/a><\/a>
\ntoday’s upgrades\/downgrades<\/a>
\nthis week’s earnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend. So the market has gone from idiot mode to just not making any sense. It keeps going up and up and up. Every little dip gets bought. The Nas has now moved up 9 consecutive weeks, and the Dow, S&P and Russell 8 of 9. […]<\/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\/480"}],"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=480"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/480\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=480"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}