{"id":577,"date":"2009-03-11T06:30:54","date_gmt":"2009-03-11T11:30:54","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=577"},"modified":"2009-03-11T06:30:54","modified_gmt":"2009-03-11T11:30:54","slug":"before-the-open-102","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=577","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nFirst off, Leavitt Brothers is now offering a FREE TRIAL. Go here<\/a><\/b> to sign up.
\nOk, the market rallied huge yesterday. It was easily the best up day in a long time. The question is whether a bottom has been put in place. My answer is yes. That doesn\u2019t mean we\u2019ll gap up and rally hard again \u2013 we may get some backing and filling \u2013 but yeah, I think it\u2019s safe to say a bottom \u2013 for now \u2013 is in. My bias is to the long side.
\nInstead of getting a total washout, the market grinded its way to a bottom, and when enough people were just flat tired, exhausted and at wits-end, it bounced.
\nI\u2019ve said numerous times over the last few weeks that at these levels the charts didn\u2019t matter; the technical indicators didn\u2019t matter. When the market is falling as consistently as it was, emotions, sentiment and supply & demand matter more. Now that we\u2019re moving up, I\u2019m going to stick with this same statement. Yes previous support levels can be resistance on the way up, but short-interest and the anxiety related to possibly missing the bottom matter more.
\nHere\u2019s the SPY 1-min chart over the last 10 days. The first gap has filled, but we now of course have a downside gap. The next target is 74 which approx. corresponds with SPX 740.
\n
\nMy bias is to the upside\u2026I\u2019m only playing the upside. Hopefully this move has legs for a couple months.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch MarketWatch<\/a><\/a>
\nupgrades\/downgrades<\/a>
\nearnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. First off, Leavitt Brothers is now offering a FREE TRIAL. Go here to sign up. Ok, the market rallied huge yesterday. It was easily the best up day in a long time. The question is whether a bottom has been put in place. My answer is yes. That doesn\u2019t mean we\u2019ll […]<\/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\/577"}],"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=577"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/577\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=577"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}