{"id":3166,"date":"2010-06-24T07:16:48","date_gmt":"2010-06-24T12:16:48","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3166"},"modified":"2010-06-24T07:16:48","modified_gmt":"2010-06-24T12:16:48","slug":"before-the-open-jun-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3166","title":{"rendered":"Before the Open (Jun 24)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe world markets are down – there are several 1% losers. Futures here in the States point towards a moderate gap down open for the cash market that will open the indexes below yesterday’s low.<\/span>
\nHere’s the SPX 60-min chart. If the futures don’t change by the opening bell, the index will open in the middle of its recent range – half the 2-week rally will have been given back. Such a pullback isn’t desirable, but it is acceptable. <\/span>
\n\"\"
\nAs I stated yesterday, I don’t see a clear path right now. I can make a case for higher prices, but there’s lots of overhead supply to contend with. I can make a case for lower prices, but we can’t expect too much follow through given the late-May and early-June lows being fairly strong. Right now is not the time to be aggressive. Let the market show its cards before trading actively again. 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