{"id":1682,"date":"2009-08-19T07:24:49","date_gmt":"2009-08-19T12:24:49","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=1682"},"modified":"2009-08-19T07:24:49","modified_gmt":"2009-08-19T12:24:49","slug":"before-the-open-aug-19","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=1682","title":{"rendered":"Before the Open (Aug 19)"},"content":{"rendered":"<p>Good morning. Happy Wednesday.<br \/>\nAfter a 1-day relief rally yesterday, the market is set to resume its short term downtrend. Most of the Asian\/Pacific markets dropped with China again leading the way (down 4.3%). Europe is currently down across the board. Futures here in the States suggests a decent gap down open for the cash market. &#8230;<!--more--><br \/>\nHere\u2019s the SPX 60-min chart. The index clearly broke support Monday (albeit with a gap) and then rallied back to back kiss the newly-formed resistance. My downside target is the blue line.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx081909-1.png\" alt=\"\" \/><br \/>\nZooming in, the SPX 15-min shows a better shot of the solid block of resistance that lies overhead.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx081909-2.png\" alt=\"\" \/><br \/>\nZooming out, here\u2019s the SPX weekly I\u2019ve posted numerous times the last few weeks. So far, the upper Bollinger Band has held.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx081909-3.png\" alt=\"\" \/><br \/>\nIf there was one positive, here it is. BKX is holding up well.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/bkx081909.png\" alt=\"\" \/><br \/>\nThe short term trend is down.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nstocks to watch from <a href=\"http:\/\/www.marketwatch.com\/story\/wednesdays-biggest-gaining-and-declining-stocks-2009-08-19\">MarketWatch<\/a><br \/>\ntoday&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\nyesterday&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1679\">Sector Performance<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1654\">Earnings Reports<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1656\">Economic Numbers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Wednesday. After a 1-day relief rally yesterday, the market is set to resume its short term downtrend. Most of the Asian\/Pacific markets dropped with China again leading the way (down 4.3%). Europe is currently down across the board. Futures here in the States suggests a decent gap down open for the cash [&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":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/1682"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1682"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/1682\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}