{"id":3221,"date":"2010-07-07T07:23:57","date_gmt":"2010-07-07T12:23:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3221"},"modified":"2010-07-07T07:23:57","modified_gmt":"2010-07-07T12:23:57","slug":"before-the-open-jul-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3221","title":{"rendered":"Before the Open (Jul 7)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed with a bearish slant – there were no standout winners or losers. Europe is currently down across the board. Futures here in the States point towards a weakish open.<\/span>
\nYesterday didn’t change the overall picture heading into this week…that some indicators support an oversold bounce, but yesterday’s big gap up did diffuse some of the built up potential energy.<\/span>
\nHere’s the 15-min SPX chart. A 5-day base is forming. My target on a move up is the 1070-1090 area, but this of course will take more than a couple days to accomplish.<\/span>
\n\"\"
\nThere are very few economic numbers and earnings reports released this week, so the market is on its own to trade as it wishes.<\/span>
\nMy bias in the near term leans to the upside, but with my trading, I’m being conservative. We’re close enough to a local bottom to not chase stocks down on the short side, and it’s not yet time to throw all caution to the wind and go long. 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