{"id":610,"date":"2009-02-09T06:30:47","date_gmt":"2009-02-09T11:30:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=610"},"modified":"2009-02-09T06:30:47","modified_gmt":"2009-02-09T11:30:47","slug":"before-the-open-109","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=610","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Monday. Hope you had a great weekend.<br \/>\nI\u2019m going to change what I do for the premarket comments. For the past few months I\u2019ve somehow gotten a little off course by becoming very news headline oriented. I would spend a lot of time typing up headlines knowing they weren\u2019t nearly as important as the charts. So from now on, I\u2019m going to talk much more about support, resistance and likely scenarios. You can get headlines from numerous sites such as Yahoo Finance and MarketWatch.<br \/>\nThe overall trend is down, but we\u2019re coming off two decent up days last Thursday and Friday. The market is ripe for a gap-up-and-sell-off, but the gap up requirement isn\u2019t going to happen. Instead we\u2019ll get a moderate gap down. On an intraday basis, if the indexes can fill its opening gap down, holding last Friday\u2019s close will be key. If price gets rejected there, we could be in for a nasty down day, but if price can hold that level, the mini uptrend we\u2019re in is likely to test resistance shown below in the daily SPX chart. Then, the market will again have an opportunity to show its true stripes.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx020909.png\"><br \/>\nThe VIX and put\/call are at low levels, so trades to the upside continue to be short term only.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nmovers &#038; shakers from <a href=\"http:\/\/www.marketwatch.com\/news\/story\/Mondays-biggest-gaining-declining-stocks\/story.aspx?guid={3AE4EBD3-DB16-45E3-8E68-56450B5CC5F7}\">MarketWatch<\/a><br \/>\n<a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Monday. Hope you had a great weekend. I\u2019m going to change what I do for the premarket comments. For the past few months I\u2019ve somehow gotten a little off course by becoming very news headline oriented. I would spend a lot of time typing up headlines knowing they weren\u2019t nearly as important [&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\/610"}],"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=610"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/610\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=610"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}