{"id":563,"date":"2009-03-30T06:30:35","date_gmt":"2009-03-30T11:30:35","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=563"},"modified":"2009-03-30T06:30:35","modified_gmt":"2009-03-30T11:30:35","slug":"before-the-open-88","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=563","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.
\nLast week was a wild one\u2026.several gaps\u2026a few gap fills\u2026on four occasions the market made a new high\u2026lots of up and down random action. It was fun to day trade but a little frustrating to swing trade. That\u2019s ok. We had many great breakout plays off the lows, and last week was a \u201clet\u2019s let the charts re-set\u201d week.
\nHere\u2019s the daily chart. The SPX traded through the thin area and couldn\u2019t make much headway into the block of resistance marked.
\n
\nHere\u2019s the 60-min chart. The price action is tightening, and we still have two unfilled gaps below. The most recent one near 770 could fill without destroying the uptrend. The one off the low shouldn\u2019t fill until the market is ready to leg down again.
\n
\nHere\u2019s a close-up of the tightening action. We have a falling rectangle pattern within a rising wedge. Something has to give.
\n
\nPer the premarket futures, the SPX will open well below the bottom of the rising wedge, and as stated in yesterday\u2019s report \u2013 before we knew where the market would open \u2013 don\u2019t be surprised if the market breaks down, sucks in some shorts, fills that gap near 770 and then rallies again.
\nheadlines at Yahoo Finance<\/a>
\nmovers & shakers from MarketWatch<\/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. Last week was a wild one\u2026.several gaps\u2026a few gap fills\u2026on four occasions the market made a new high\u2026lots of up and down random action. It was fun to day trade but a little frustrating to swing trade. That\u2019s ok. We had many great breakout plays […]<\/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\/563"}],"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=563"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/563\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}