{"id":2030,"date":"2009-10-12T07:30:04","date_gmt":"2009-10-12T12:30:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2030"},"modified":"2009-10-12T07:30:04","modified_gmt":"2009-10-12T12:30:04","slug":"before-the-open-oct-12","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2030","title":{"rendered":"Before the Open (Oct 12)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nToday is Columbus Day. The stock market is open, but fixed income and currency pits at the CME & CBOT are closed. Today will likely be slow. …
\n<\/span>
\nAs is usually the case, I don’t have much to add to my weekend comments.<\/span>
\nThe market moved up all 5 days last week. The S&P is within 9 points of a new 52-week high; the Dow is within 140 of 10,000.<\/span>
\nSix trading days ago the bears were once again getting excited about a top being in place and a big move down in the beginning stages. Here were are near the highs. When will they learn? There’s a long list of reasons the market should top and fall, but there’s one reason to not bet on the down side – because the market is moving up. Simple as that. End of story. Price action rules, and as long as the trend remains up, as long as the market continues making higher highs and higher lows, why fight it. To succeed as a trader, you have to trade what’s happening, not what you think or should happen.<\/span>
\nHere’s the SPX 60-min. The trendline drawn is still in play. It’s acted as support and resistance enough times to be considered significant, so let’s keep it in the backs of our minds. And there are still a couple unfilled gaps. <\/span>
\n\"\"
\nIf a top were to be put in place soon, I’m thinking Dow 10,000 has to be taken out first. The media will be all over it, and a round of buying from Joe Public is exactly what Wall St. would love to sell into. It’s another thing to keep in mind. The media is a trader’s friend. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nyesterday’s Sector Performance<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend. Today is Columbus Day. The stock market is open, but fixed income and currency pits at the CME & CBOT are closed. Today will likely be slow. …<\/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\/2030"}],"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=2030"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/2030\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}