{"id":566,"date":"2009-03-25T06:30:40","date_gmt":"2009-03-25T11:30:40","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=566"},"modified":"2009-03-25T06:30:40","modified_gmt":"2009-03-25T11:30:40","slug":"before-the-open-91","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=566","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nLeavitt Brothers is offering a membership special<\/b> right now ->> buy an annual membership, get a free month. It averages out to about $38.50 per month – a great deal considering the quality and quantity of stocks picks we offer…not to mention our during-trading-hours and after-trading-hours analysis. To sign up, click the BECOME A MEMBER tab above. We’ll add the extra month after you sign up.
\nI don\u2019t know if it was the overbought indicators that caused yesterday\u2019s selling or if that was just a coincidence because the market needed it anyways. In any case, after pushing close to their highs, the market sold off in fairly orderly fashion. Volume wasn\u2019t too heavy, and there wasn\u2019t anything overly alarming about the action. My internal indicators are still in overbought territory, so I still think the market needs a few days of rest before attempting to bust out again. Here\u2019s the 30-min SPX. Going back to last week, I\u2019ve always considered 825 stiffer and more significant resistance than 800.
\n
\nDownside target? I\u2019m more interested in a pullback lasting a couple days than specifying an exact level it needs to retest (although filling Monday\u2019s gap would be nice). People have become quite bullish out there \u2013 even Abby from Goldman came out yesterday and said SPX fair value was 900 (I thought she was removed from SPX forecasting duty). A correction to shake the market\u2019s confidence is needed. Then Wall St. can climb that proverbial wall of worry.
\nBe patient. We just went through a couple weeks of easy trades. Now we have to wait for the charts to re-set.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch MarketWatch<\/a><\/a>
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Good morning. Happy Wednesday. Leavitt Brothers is offering a membership special right now ->> buy an annual membership, get a free month. It averages out to about $38.50 per month – a great deal considering the quality and quantity of stocks picks we offer…not to mention our during-trading-hours and after-trading-hours analysis. To sign up, click […]<\/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\/566"}],"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=566"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/566\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=566"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}