{"id":579,"date":"2009-03-09T06:30:56","date_gmt":"2009-03-09T11:30:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=579"},"modified":"2009-03-09T06:30:56","modified_gmt":"2009-03-09T11:30:56","slug":"before-the-open-96","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=579","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.
\nFirst off, Leavitt Brothers is now offering a FREE TRIAL. Go here<\/a><\/b> to sign up.
\nSo late in the day on Friday the SPX fell to 666 (our target per the daily chart was 665) and then rallied 20 points into the close. I view the move as nothing more than profit taking by the shorts into the weekend. I still believe the charts don\u2019t matter too much. We\u2019re not in unchartered territory, but we are at a level that hasn\u2019t been seen since the mid 90\u2019s.
\nEvery pop gets sold and new lows are made soon after, and as long as \u201ctoo many\u201d traders continue looking for a bottom, it\u2019s not going to form. Here\u2019s the SPX 60-min chart since the beginning of the year. I guess it\u2019s possible we can grind out way to bottom. At some point in time there will be no one left to sell.
\n
\nHere\u2019s the SPY chart over the last 7 days. I use it because it shows the gaps better. For what it\u2019s worth, a 10% move off the low only gets us to about 74. That\u2019s how you know the market is in sick condition \u2013 when a 10% move only gets you back to a 5-day high.
\n
\nI don\u2019t have anything else to day right now. I don\u2019t have feel for what will happen today. We got a 20-point rally into the close on Friday, and half that will be given back at today\u2019s open. I could make a case new lows will be made today just as easily as I can fathom some chopping and churning before another move up begins. I\u2019m in cash in will be day trading until I see more clarity.
\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. First off, Leavitt Brothers is now offering a FREE TRIAL. Go here to sign up. So late in the day on Friday the SPX fell to 666 (our target per the daily chart was 665) and then rallied 20 points into the close. I view […]<\/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\/579"}],"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=579"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/579\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=579"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}