{"id":3433,"date":"2010-09-01T07:22:04","date_gmt":"2010-09-01T12:22:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3433"},"modified":"2010-09-01T07:22:04","modified_gmt":"2010-09-01T12:22:04","slug":"before-the-open-sep-1-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3433","title":{"rendered":"Before the Open (Sep 1)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up – there were several 1% winners. Europe is currently up across the board – every market is up at least 1%. Futures here in the States point towards a big gap up for the cash market.<\/span>
\nThe S&P successfully held 1040 again yesterday, and there was some very fishy activity in the futures market right at the close. In less than 2 minutes, over 200,000 contracts traded (normally it would be 20-40K). There was so much buying, the 1-min intraday chart shows a gap. It seems fishy to me. Why would someone wait until the last minute of the day to execute such a big order, and now the market is gapping up big. Hmmm…<\/span>
\nHere’s the S&P daily. Over the last 3+ months the market has been range bound. Over the last week, a bear flag within a mini downtrend has formed. Today’s open will be near the top of the pattern.<\/span>
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\nEverything is stacked against the bulls right now. There is almost nothing good they can hang their hats on. And this is why the market may surprise everyone and move up. When too many people are stacked on one side, surprises can happen. Be flexible. 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>
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