{"id":3169,"date":"2010-06-25T07:27:24","date_gmt":"2010-06-25T12:27:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3169"},"modified":"2010-06-25T07:27:24","modified_gmt":"2010-06-25T12:27:24","slug":"before-the-open-jun-25","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3169","title":{"rendered":"Before the Open (Jun 25)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday.<\/span><br \/>\n<span style=\"font-size: medium;\">Overseas markets closed mostly down. Futures here in the States point towards a small gap up open for the cash market. <!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">Today is re-balancing day for the Russell. They rank all stocks by market cap. The top 1000 become the Russell 1000, the next 2000 become the Russell 2000 etc. The Russell Group doesn&#8217;t hand pick stocks like the Standard &amp; Poors does; everything is mechanical and by market cap. There will be Russell 1000 stocks that become Russell 2000 stocks and vice versa and Russell 2000 stocks which drop out all together. Tracking funds and ETFs will need to do lots of buying and selling to be in line with each index&#8217;s components&#8230;although I&#8217;m not sure if they all have to accomplish the re balancing in one day.<\/span><br \/>\n<span style=\"font-size: medium;\">The market is on a 4-day losing streak. This has happened several times the last year, but you have to go back to the March 2009 bottom to find a 5-day losing streak. <\/span><br \/>\n<span style=\"font-size: medium;\">Barring a huge rally today, bearish engulfing candles will be completed on the weekly index charts. <\/span><br \/>\n<span style=\"font-size: medium;\">Support for the S&amp;P is in the 1040-1050 area, but I don&#8217;t like to drawing lines in the sand. If this area gets taken out, it doesn&#8217;t automatically mean the market is going to fall apart. Often key levels get taken out, traders line up on one side of the market and then the opposite move happens. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spx062510.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">That&#8217;s it for now. I expect lots of volume and random price movements with it being Russell re-balancing day.<\/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;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=3146\">Earnings Reports<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=3148\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.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[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. Overseas markets closed mostly down. Futures here in the States point towards a small gap up open for the cash market.<\/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\/3169"}],"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=3169"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/3169\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}