{"id":615,"date":"2009-02-17T06:30:53","date_gmt":"2009-02-17T11:30:53","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=615"},"modified":"2009-02-17T06:30:53","modified_gmt":"2009-02-17T11:30:53","slug":"before-the-open-114","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=615","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Tuesday. Hope you enjoyed your extra day off.<br \/>\nWe enter this week with the market sitting on edge. The indexes broke down last Thursday but recaptured support at the end of the day. Friday saw slight selling pressure, so once again the market sits on support without much room for error. Every other time this situation has surfaced, the bulls stepped up and defended their turf. Will today be any different?<br \/>\nThe futures market tells us it\u2019ll be tough. SPX futures are down almost 20 before the open; they\u2019re right at Thursday\u2019s low and well-below support. The market has been able to absorb a great deal of negative news the last couple months without completely breaking. Many cracks are in the damn, but so far it still stands. At what point do the bulls throw up their hands and say: \u201cthat\u2019s it, we can\u2019t keep doing this.\u201d<br \/>\nHere\u2019s the 30-min SPX chart. If 800 is taken out, and the bulls don\u2019t quickly step up to defend their position, a quick move to 750 is likely to follow.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx021709.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\/Tuesdays-biggest-gaining-declining-stocks\/story.aspx?guid={D6556713-156D-4335-A862-436DD308DB0B}\">MarketWatch<\/a><\/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 Tuesday. Hope you enjoyed your extra day off. We enter this week with the market sitting on edge. The indexes broke down last Thursday but recaptured support at the end of the day. Friday saw slight selling pressure, so once again the market sits on support without much room for error. Every [&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\/615"}],"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=615"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/615\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=615"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}