{"id":3225,"date":"2010-07-08T07:18:46","date_gmt":"2010-07-08T12:18:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3225"},"modified":"2010-07-08T07:18:46","modified_gmt":"2010-07-08T12:18:46","slug":"before-the-open-jul-8","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3225","title":{"rendered":"Before the Open (Jul 8)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nExcept for China, the Asian\/Pacific markets closed up – there were several 1% winners. Except for Stockholm, Europe is up – not indexes are up at least 1%. Futures here in the States are flat. <\/span>
\nYesterday’s solid trend up day was what everyone was expecting Tuesday – don’t you love it when everyone gets what they want but not when they want?<\/span>
\nHere’s the 15-min SPX chart I posted yesterday with a target 1070-1090. So far so good. <\/span>
\n\"\"
\nAnd let’s not forget the falling wedge on the weekly. Everyone assumes the head-n-shoulder top will play out, but I’ve seen way too many instances where a failed break down morphs into a bullish pattern and a rally follows.<\/span>
\n\"\"
\nShort term my bias remains to the upside. Longer term my bias remains to the downside. Know what time frame you’re trading. For now I’m treating this bounce like it’s a bounce within a downtrend. It has a lot of work to do to cause me to switch my longer term bias to the other side. <\/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