{"id":3113,"date":"2010-06-08T07:30:14","date_gmt":"2010-06-08T12:30:14","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3113"},"modified":"2010-06-08T07:30:14","modified_gmt":"2010-06-08T12:30:14","slug":"before-the-open-jun-8","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3113","title":{"rendered":"Before the Open (Jun 8)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Europe is currently down across the board. Futures here in the States point towards a small gap up open for the cash market. <\/span>
\nOn a closing basis, the last two days combined have been worse than any other two days since the market topped. On Friday, 1230 of the 1500 stocks in the S&P 1500 closed in the bottom 20% of their intraday range. Yesterday the number was 1271. Not only are these the two worst days since the top, they’ve come back to back and suggest a relief bounce should materialize soon. <\/span>
\nThe most bullish picture I can paint is that of the S&P possibly forming a bullish wedge at support (1040-1050) and at its lower Bollinger Band. <\/span>
\n\"\"
\nBut with the indicators acting as I’ve pointed out numerous times the last month, the overall trend, in my eyes, is down, so I’m maintaining my short bias. <\/span>
\nKnow what time frame you’re trading. More after the open.<\/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