{"id":398,"date":"2009-07-10T06:30:24","date_gmt":"2009-07-10T11:30:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=398"},"modified":"2009-07-10T06:30:24","modified_gmt":"2009-07-10T11:30:24","slug":"before-the-open-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=398","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Friday.
\nNothing was resolved yesterday. We were wondering if Wednesday\u2019s high-volume, late-day move up had any meaning, and with yesterday\u2019s small-range day, no clues were given.
\nMy bias has been to the downside; it remains there. Nothing happened yesterday to get me excited about going long \u2013 especially heading into a weekend.
\nTrading has nothing to do with certainties and everything to do with probabilities. Right now the odds favor the downside, so that\u2019s where I\u2019m focused. For me to change my mind, I\u2019d need a solid move up followed by a pause or some backing and filling before another move up, but this isn\u2019t likely to happen now. The internal breadth indicators are coming off their highs and are nowhere near oversold levels. Charts of individual stocks are not in good shape \u2013 or at least not set up for trades to the upside. For now I\u2019m sticking with shorts.
\nHere are those daily charts. They all traded through trendline support (red) and are now trading within what could be considered falling rectangles (blue) which have bullish implications. As long as lower highs and lower lows are the pattern, I\u2019m sticking with the short side.
\n
\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 Friday. Nothing was resolved yesterday. We were wondering if Wednesday\u2019s high-volume, late-day move up had any meaning, and with yesterday\u2019s small-range day, no clues were given. My bias has been to the downside; it remains there. Nothing happened yesterday to get me excited about going long \u2013 especially heading into a weekend. […]<\/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\/398"}],"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=398"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/398\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}