{"id":393,"date":"2009-07-07T06:30:50","date_gmt":"2009-07-07T11:30:50","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=393"},"modified":"2009-07-07T06:30:50","modified_gmt":"2009-07-07T11:30:50","slug":"before-the-open-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=393","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Tuesday.
\nThe bulls did exactly what they needed to do yesterday\u2026they dug their heels in and defended their turf. Considering the proximity to the bottom of the channel, there was little room for error. The market closed mixed and flat \u2013 a small victory considering sentiment had turned negative and the trend over the last couple weeks has been down.
\nHere\u2019s the 60-min chart. Dips get bought, rallies get sold. My bias leans to the downside, but I\u2019m not one who believes in \u201clines in the sand.\u201d Even if support is taken out, I\u2019m not going to throw all caution to the wind and put everything I have into bearish set ups.
\n
\nHere\u2019s the SPX daily. Everyone and their brother sees the head & shoulder top. I also see a potential falling rectangle pattern. That\u2019s why in my eyes a new low doesn\u2019t automatically spell doom for the market. False breakouts occur often. A 2-month low would certainly put a dagger in the hearts of the bulls and get the bears super excited. It would also perfectly set the stage for a rally. Anything can happen. You know that by now. Expect the unexpected.
\n
\nMy bias is to the downside, but I\u2019m still playing good defense.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch from MarketWatch<\/a>
\ntoday’s upgrades\/downgrades<\/a>
\nyesterday’s leaders & laggards<\/a>
\nthis week’s earnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Tuesday. The bulls did exactly what they needed to do yesterday\u2026they dug their heels in and defended their turf. Considering the proximity to the bottom of the channel, there was little room for error. The market closed mixed and flat \u2013 a small victory considering sentiment had turned negative and the trend […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/393"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=393"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/393\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}