{"id":2140,"date":"2009-10-28T07:37:17","date_gmt":"2009-10-28T12:37:17","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2140"},"modified":"2009-10-28T07:37:17","modified_gmt":"2009-10-28T12:37:17","slug":"before-the-open-oct-28","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2140","title":{"rendered":"Before the Open (Oct 28)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down – several indexes lost at least 1%.<\/span>
\nEurope is currently down across the board – Austria is getting killed; most other indexes are down ~ 1.5%.<\/span>
\nFutures here in the States suggests a gap down open for the cash market. This comes off the market being down 5 of the last 6 days. It will soon be due for a bounce, but I’m sticking with my short term target (SPX mid 1040’s) and intermediate term target (SPX 1005ish).<\/span>
\nThere’s not need for me to repost the monthly, weekly and daily charts I posted in yesterday’s report. So here’s the 60-min. It’s a couple points above 1060 gap support. If it loses that level (if futures hold, it’ll gap below that level), we could see a quick sell-off to 1050. But we’re due for a bounce soon. I wouldn’t be surprised to see yesterday’s lows get taken out and part of the gap get filled before the imbalance of support and demand again favored the bulls. <\/span>
\n\"\"
\nI have little interest in going long or being long…except for those reverse ETFs. \ud83d\ude42<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n