{"id":3247,"date":"2010-07-13T07:21:27","date_gmt":"2010-07-13T12:21:27","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3247"},"modified":"2010-07-13T07:21:27","modified_gmt":"2010-07-13T12:21:27","slug":"before-the-open-jul-13","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3247","title":{"rendered":"Before the Open (Jul 13)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Europe is up across the board with solid gains. Futures here in the States point towards a moderate gap up for the cash market thanks to good earnings from AA despite Portugal being downgraded. <\/span>
\nThe S&P has moved up 5 consecutive days – the last two on very light volume. Now we get a gap up, and unless something is changing about the market, this vertical move off last the Jul 1 low isn’t sustainable.<\/span>
\nHere’s the weekly. Resistance is at 1100ish…plus we have the Jun high to contend with. Given the straight up move and overhead supply, this isn’t a time to be aggressive on the long side.<\/span>
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\nHere’s the 15-min chart. If today would have been a quiet day, I’d say the market was well set up for a breakout and quick move to 1100, but the gap up diffuses any pent up energy.<\/span>
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\nI don’t see many great set ups right now. This is a good time to work on yourself so you’re more ready for the next batch of trades.<\/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>
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