{"id":612,"date":"2009-02-11T06:30:49","date_gmt":"2009-02-11T11:30:49","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=612"},"modified":"2009-02-11T06:30:49","modified_gmt":"2009-02-11T11:30:49","slug":"before-the-open-111","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=612","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Wednesday.<br \/>\nSo here we are at a key level for the market \u2013 yes there seems to be many of them. For the last month, dips have gotten bought and rallies sold. Yesterday I said it would be nice if support was tested again because that would allow the consolidation pattern to mature. I just didn\u2019t think it would happen in one day. Per the daily chart below, the SPX is now sitting at support. Follow through to the downside is likely to lead to a quick move to 750.<br \/>\n<img src=\"http:\/\/www.leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx021109-1.png\"><br \/>\nThere\u2019s no question all time frames point down, so our focus shifts back being aggressively short. Partial positions can be taken on breaks of support and positions can be added to on bounces. And if you\u2019re thinking this move down may be short lived, consider that the VIX and put\/call ratio are at relatively low levels, so odds favor the market being much closer to a top than a bottom. Here&#8217;s the VIX chart&#8230;<br \/>\n<img src=\"http:\/\/www.leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/vix021109-2.png\"><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\/Stocks-focus-Wednesday\/story.aspx?guid={E6151F3B-5326-464C-A03B-92C347B0A224} \">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 Wednesday. So here we are at a key level for the market \u2013 yes there seems to be many of them. For the last month, dips have gotten bought and rallies sold. Yesterday I said it would be nice if support was tested again because that would allow the consolidation pattern to [&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\/612"}],"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=612"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/612\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=612"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}