{"id":618,"date":"2009-02-20T06:30:57","date_gmt":"2009-02-20T11:30:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=618"},"modified":"2009-02-20T06:30:57","modified_gmt":"2009-02-20T11:30:57","slug":"before-the-open-117","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=618","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Friday.<br \/>\nIt\u2019s options expiration day which is totally meaningless relative to everything else going on in the market. The indexes broke down earlier this week and have been drifting lower within a tight range since. Here\u2019s the SPX daily chart. For several weeks I\u2019ve been saying the lows will be tested, and here we are.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx022009-1.png\"><br \/>\nHere\u2019s the 30-min chart. Even if we get a bounce soon, there will be a ton or resistance to deal with.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx022009-2.png\"><br \/>\nHere\u2019s the 10-min chart. Support was taken out yesterday, and per the current premarket futures level, the index will open well below yesterday\u2019s close.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx022009-3.png\"><br \/>\nThe market feels close to being in crash mode which means it may soon be time to exit shorts and poke a few longs. I\u2019m looking for the VIX to spike and for a day where 90% of stocks are down and 90% of volume is funneled into those declining issues. And if we get two of these types of days, I\u2019ll definitely be looking to go long. But for now, I\u2019m gonna keep riding the bear market down.<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\/Fridays-biggest-moving-stocks\/story.aspx?guid={CBC04D92-4A00-447D-AE07-AF49B4CFD18B}\">MarketWatch<\/a><br \/>\ntoday&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/economic-releases-earnings-reports\/2009\/02\/15.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. It\u2019s options expiration day which is totally meaningless relative to everything else going on in the market. The indexes broke down earlier this week and have been drifting lower within a tight range since. Here\u2019s the SPX daily chart. For several weeks I\u2019ve been saying the lows will be tested, and [&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\/618"}],"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=618"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/618\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=618"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}