{"id":530,"date":"2009-04-21T06:30:12","date_gmt":"2009-04-21T11:30:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=530"},"modified":"2009-04-21T06:30:12","modified_gmt":"2009-04-21T11:30:12","slug":"before-the-open-78","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=530","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Tuesday.<br \/>\nSo after six weeks of grinding higher, the market finally cracked yesterday. Since the March low, dips have gotten bought and losing streaks were contained to two days. Odds now favor a move down \u2013 or at least the path of least resistance is now down. Whether the lows are revisited soon or the market simply gives back part of its 30% gains remains to be seen. We don\u2019t make money predicting or figuring out what will happen. We make money trading in the direction the odds favor.<br \/>\nHere\u2019s the daily SPX. There\u2019s nothing fancy here. Just a rising wedge that got rejected by resistance and then sliced through support. I would not be long right now. If the market firms and moves up again, fine. You can always jump back in, but for now, I wouldn\u2019t fight it.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx042109-1.png\"><br \/>\nThat\u2019s it for now. Don\u2019t overanalyze things. We\u2019ve had a nice run off the lows. We\u2019ve had literally dozens of great upside breakouts. Many of our set ups moved 50-100%, but the party looks to be over.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nstocks to watch from <a href=\"http:\/\/www.marketwatch.com\/news\/story\/Tuesdays-biggest-gaining-declining-stocks\/story.aspx?guid={57C7BE4A-AADE-4BF6-85C2-55811DCE5DAD}\">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\/19.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Tuesday. So after six weeks of grinding higher, the market finally cracked yesterday. Since the March low, dips have gotten bought and losing streaks were contained to two days. Odds now favor a move down \u2013 or at least the path of least resistance is now down. Whether the lows are revisited [&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\/530"}],"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=530"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/530\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=530"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}