{"id":1901,"date":"2009-09-21T07:31:52","date_gmt":"2009-09-21T12:31:52","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=1901"},"modified":"2009-09-21T07:31:52","modified_gmt":"2009-09-21T12:31:52","slug":"before-the-open-sep-21","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=1901","title":{"rendered":"Before the Open (Sep 21)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Monday. I hope you had a nice weekend.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed \u2013 there were no big winners or losers.<\/span><br \/>\n<span style=\"font-size: medium;\">Europe is currently down across the board \u2013 there are several markets down more than 1%.<\/span><br \/>\n<span style=\"font-size: medium;\">Futures here in the States suggest a gap down open for the cash market. &#8230;<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">Here\u2019s the <strong>SPX daily<\/strong>. You can\u2019t argue with the trend, but you could argue the index is in nosebleed territory and in need of a rest. Last Thursday was a near Doji day \u2013 a sign of indecision. Then Friday was an inside day \u2013 the high and low were contained within the previous day\u2019s high and low. Such action builds pressure into the market and often results in a trend day.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx092109.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Let\u2019s continue to keep an eye on the <strong>US dollar<\/strong>. If it rallies here, odds favor the market pulling back.<\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/usd092109.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">Options expiration is over. The bears lost again. You know the routine\u2026the market could unwind to piss off the bears even more. It\u2019s one thing to lose money predicting a sell-off. It\u2019s another to lose money and then see the market drop right after OE.<\/span><br \/>\n<span style=\"font-size: medium;\">Also, remember Wednesday is FOMC day. Considering how well the market has done the last 6 months, I wouldn\u2019t be surprised if the Fed kept rates the same but sounded tougher in their statement. Higher rates are coming soon, and it\u2019s unknown how the market will handle the prospect of more expensive money.<\/span><br \/>\n<span style=\"font-size: medium;\">That\u2019s it for now. I don\u2019t have much to add to my weekend comments. The trend is up, but a rest is needed.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">yesterday&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1893\">Sector Performance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1899\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1897\">Economic Numbers<\/a><\/span><br \/>\nopen a real-time futures demo account at&#8230;<br \/>\n<a href=\"http:\/\/www.infinityfutures.com\/IATdemosignup.aspx?ref=aglb\"><img src=\"http:\/\/leavittbrothers.com\/banners\/v3468x60.gif\" alt=\"\" \/><\/a><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Monday. I hope you had a nice weekend. The Asian\/Pacific markets closed mixed \u2013 there were no big winners or losers. Europe is currently down across the board \u2013 there are several markets down more than 1%. Futures here in the States suggest a gap down open for the cash market. &#8230;<\/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\/1901"}],"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=1901"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/1901\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}