{"id":3430,"date":"2010-08-31T07:24:12","date_gmt":"2010-08-31T12:24:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3430"},"modified":"2010-08-31T07:24:12","modified_gmt":"2010-08-31T12:24:12","slug":"before-the-open-aug-31-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3430","title":{"rendered":"Before the Open (Aug 31)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed down across the board. Europe is currently down across the board. Futures here in the States point towards a moderate gap down for the cash market.<\/span>
\nTwice in the last week the market has acted like it wanted to reverse the short term downtrend and both times the bears reasserted themselves. Everything is bad; everything is negative. The only hope the bulls have is that investor sentiment tips too far in the bear’s favor and therefore a surprise rally should follow. Otherwise there’s nothing for the bulls to hang their hats on. <\/span>
\nHere’s and update of the S&P 10-min chart I posted yesterday. Previous support did hold as resistance. There may be minor support at 1045, but stronger support doesn’t come into play until 1040. <\/span>
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\nHere’s the SPX 60-min chart. If the index loses 1040 and can’t quickly reclaim it, 1020 and the July low are next. <\/span>
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\nMore 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>
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