{"id":525,"date":"2009-04-14T06:30:06","date_gmt":"2009-04-14T11:30:06","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=525"},"modified":"2009-04-14T06:30:06","modified_gmt":"2009-04-14T11:30:06","slug":"before-the-open-73","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=525","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Tuesday.<br \/>\nYesterday the market was weak, then exhibited strength, and then sold off some into the close. In the end the indexes were largely unchanged.<br \/>\nHere\u2019s that SPX weekly I posted yesterday. The index is slightly struggling here near resistance while volume has fallen off each week, and although not easily apparent, the intraweek ranges are generally declining. Although the trend is up, this isn\u2019t bullish. When prices appreciate while volume falls off and the range declines, you must start thinking defensively.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx041409-1.png\"><br \/>\nHere\u2019s the daily SPX. Whether you consider resistance right here at the blue line or just overhead at 875 doesn\u2019t matter. Fact is potential resistance is near.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx041409-2.png\"><br \/>\nAnd here\u2019s the 15-min SPY chart. There are numerous (many not shown on this chart) unfilled gaps below.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx041409-3.png\"><br \/>\nSo the market is nicely trending up, but volume is declining and the ranges are getting smaller. Throw in a bunch of unfilled gaps below and we have a situation that can end with a big move. Very soon I think the market goes parabolic (against all logic) or takes a hard hit. Be on your toes.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nmovers &#038; shakers from <a href=\"http:\/\/www.marketwatch.com\/news\/story\/Stocks-focus-Tuesday\/story.aspx?guid={9D042859-6DA1-4DEB-BB10-69C313D7F2F5}\">MarketWatch<\/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 Tuesday. Yesterday the market was weak, then exhibited strength, and then sold off some into the close. In the end the indexes were largely unchanged. Here\u2019s that SPX weekly I posted yesterday. The index is slightly struggling here near resistance while volume has fallen off each week, and although not easily apparent, [&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\/525"}],"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=525"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/525\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=525"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}