{"id":533,"date":"2009-04-24T06:30:15","date_gmt":"2009-04-24T11:30:15","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=533"},"modified":"2009-04-24T06:30:15","modified_gmt":"2009-04-24T11:30:15","slug":"before-the-open-81","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=533","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Friday.<br \/>\nIt\u2019s be a challenging week for swing trades. Monday began with the SPX near resistance with many warnings signs the market needed a rest, so although the trend was up, we had already shifted into conservative mode. Hence my trades this week have been day trades or 1-day trades. Monday was an intense down day; Tuesday a solid up day; Wednesday a pretty good up day until the last hour when the floor got pulled out; and yesterday was sluggish but in the end turned out ok.<br \/>\nHere\u2019s the daily SPX chart. Overall I\u2019d classify the action as consolidation below stiff resistance. From a charting standpoint, there\u2019s nothing wrong with the action. This doesn\u2019t mean we\u2019ll definitely blast off to higher levels (nothing is definite); it just means the trend has neutralized, and move in either direction is getting to be equally likely.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx042409-1.png\"><br \/>\nThe SPX is down about 18 points on the week. Barring a massive sell-off, is it of great concern for the index to drop a few points given the last 6 weeks have been up? I\u2019m not overly concerned, but again, that doesn\u2019t mean I\u2019m positioning myself for a breakout, it just means I\u2019m not going to jump in the bear\u2019s camp just because we have one down week.<br \/>\nI\u2019m in cash right now and will be in cash at the end of the day.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nstocks to watch <a href=\"http:\/\/www.marketwatch.com\/news\/story\/Stocks-focus-Friday\/story.aspx?guid={F5843C9B-60C9-4DDD-93D1-C6CB528537ED}\">MarketWatch<\/a><\/a><br \/>\n<a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\n<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 Friday. It\u2019s be a challenging week for swing trades. Monday began with the SPX near resistance with many warnings signs the market needed a rest, so although the trend was up, we had already shifted into conservative mode. Hence my trades this week have been day trades or 1-day trades. Monday was [&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\/533"}],"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=533"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/533\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=533"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}