{"id":524,"date":"2009-04-13T06:30:05","date_gmt":"2009-04-13T11:30:05","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=524"},"modified":"2009-04-13T06:30:05","modified_gmt":"2009-04-13T11:30:05","slug":"before-the-open-72","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=524","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Monday. Hope you had a nice long weekend.<br \/>\nLast Thursday all the indexes closed at new swing highs on pretty good volume. Many charts of individual stocks broke out last week and many more are sitting right at resistance. But we aren\u2019t without warning signs. Most of the internal breadth indicators are in overbought territory, and the shear number of stocks on the LB Long List tells us the odds favor a pullback very soon. Hence my bias is to the upside, but I\u2019m being cautious.<br \/>\nHere\u2019s the daily SPX. The index broke out from what would be considered a pennant pattern within a mini uptrend. Potential resistance comes from the blue trendline which connects the tops of the last three weeks and 875 which was the high in late Jan and early Feb.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx041309-1.png\"><br \/>\nFrom here, the market will either go parabolic, or it\u2019ll get turned back soon. Be on your toes for either scenario.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\ntoday&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/economic-releases-earnings-reports\/2009\/04\/12.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Monday. Hope you had a nice long weekend. Last Thursday all the indexes closed at new swing highs on pretty good volume. Many charts of individual stocks broke out last week and many more are sitting right at resistance. But we aren\u2019t without warning signs. Most of the internal breadth indicators are [&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":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/524"}],"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=524"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/524\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=524"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}