{"id":3545,"date":"2010-09-30T07:25:25","date_gmt":"2010-09-30T12:25:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3545"},"modified":"2010-09-30T07:25:25","modified_gmt":"2010-09-30T12:25:25","slug":"before-the-open-sep-30-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3545","title":{"rendered":"Before the Open (Sep 30)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed with a bearish lean. Europe is currently down across the board. Futures here in the States point towards a down open for the cash market. <\/span>
\nToday is the last day of the month and quarter. Some will tell you the market has a tendency to do X during such times. I pay little attention to such historical tendencies. After all, if I did listen, I would not have been long this entire month.<\/span>
\nYesterday was an inside day (all the movement was contained within the previous day’s high and low), and it was also the first time in 8 days advancers & decliners were approx. equal. The previous 7 days either advancers or decliners led by at least 2:1 – there are many less neutral days nowadays and many more “all or nothing days.” I’m sure there are lots of reasons why, one of them being high frequency momentum trading.<\/span>
\nThe worst month of the year (Sept) has had its best month since the Great Depression. Logic says it can’t continue, but the market isn’t logical. During the Feb-Apr rally it moved up 9 of 11 weeks. Heading into this week the market had moved up 4 straight. Tacking on several more with an occasional down week would not be out of character – especially in today’s world of government intervention and high frequency trading.<\/span>
\nHere’s the current weekly chart. Resistance at 1150 is pretty strong. 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