{"id":623,"date":"2009-02-27T06:30:03","date_gmt":"2009-02-27T11:30:03","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=623"},"modified":"2009-02-27T06:30:03","modified_gmt":"2009-02-27T11:30:03","slug":"before-the-open-122","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=623","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Friday.<br \/>\nSo after all that it looks like all the market could manage was a single up day. The SPX got rejected by resistance yesterday and has now fallen 8 of 9 days. Here\u2019s the 30-min chart.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx022709-1.png\"><br \/>\nIt now looks like the SPX is forming a bear flag on the daily. The move from 825 to 750 projects a move to 675. Chart below.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx022709-2.png\"><br \/>\nBarring a solid move up today, the market will close down for the week and month. Both Jan and Feb have been down months, and so far, 7 of the 8 weeks to start the new year have been down.<br \/>\n<a href=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/2009\/02\/26.cfm\">Yesterday<\/a> I stated if the SPX couldn\u2019t take out 800, the market is weaker than I thought. That seems to be the case. It\u2019s do or die time. The bulls must step up right now or the next leg down will be under way.<br \/>\nUnfortunately the VIX is nowhere near a level that would suggest fear is rampant and a bounce imminent.<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-most-active-stocks\/story.aspx?guid={703089A9-BC03-4468-A937-EFDED7C726FB}\">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\/22.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. So after all that it looks like all the market could manage was a single up day. The SPX got rejected by resistance yesterday and has now fallen 8 of 9 days. Here\u2019s the 30-min chart. It now looks like the SPX is forming a bear flag on the daily. The [&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\/623"}],"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=623"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/623\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=623"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}