{"id":3458,"date":"2010-09-08T07:24:49","date_gmt":"2010-09-08T12:24:49","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3458"},"modified":"2010-09-08T07:24:49","modified_gmt":"2010-09-08T12:24:49","slug":"before-the-open-sep-8-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3458","title":{"rendered":"Before the Open (Sep 8)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific market closed mostly down – losses were small. Europe is currently up across the board – gains are small. Futures here in the States point towards a small gap up open for the cash market. This comes off a strong bounce last week and a light-volume give back yesterday.<\/span>
\nTonight starts the first of two Jewish holidays that fall at this time of year, so I expect volume to be light again. This is fine considering the market needed to do a little backing and filling after last week’s surge put some very short term indicators into overbought territory. After a counter trend takes place, I expect the market to move up again, but the market has some proving to do. Last week’s bounce was easy because so many participants were stacked on one side of the market. Now is the hard part for the bulls. Real buyers must step up to keep the movement going. This won’t be easy.<\/span>
\nYesterday I posted the daily S&P. Today I’m posting the weekly. It’s either a falling rectangle (bullish implications) or rising wedge (bearish). Until the market makes up its mind, we need to keep our holding times short term. More after the open.<\/span>
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\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