{"id":406,"date":"2009-07-24T06:30:36","date_gmt":"2009-07-24T11:30:36","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=406"},"modified":"2009-07-24T06:30:36","modified_gmt":"2009-07-24T11:30:36","slug":"before-the-open-11","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=406","title":{"rendered":"Before the Open (Jul 24)"},"content":{"rendered":"

Good morning. Happy Friday.
\nIt\u2019s been a heck of a week. Our bias has been to the upside, but we\u2019ve been expected some backing and filling or at least some sideways movement before the next leg up began. Instead we got some chopping and churning early in the week and blast off yesterday.
\nEvery index made a new high. Every index closed above its upper Bollinger Band (daily chart). The Nas 100 has moved up 12 consecutive days \u2013 I have no idea how often that has happened or if it has happened before. …
\nJuly is the one of the weaker months of the year \u2013 the SPX is up 57 points or 6.2%, and some very long term indicators \u2013 indicators which only flash a buy or sell signal once every couple years \u2013 are in the process of turning from sell to buy. I\u2019ll cover them this weekend.
\nThe SPX is up better than 100 points in less than 2 weeks. I call it idiot mode. It won\u2019t keep going up like this forever, so be a little careful initiating new long positions \u2013 the risk\/reward is not very favorable even though the trend is up.
\nAlso, I\u2019ve been saying for a few days the small caps and banks had to participate in the rally, otherwise the upside was limited. Yesterday the Russell led the market, and the banks did great too.
\nHere\u2019s the SPX daily. If the move off 875 matches the move from 675 to 950, the target is 1150. I\u2019m not expecting it \u2013 it\u2019s just in the back of my mind. For now I\u2019ll stick with the long side and play good defense.
\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. It\u2019s been a heck of a week. Our bias has been to the upside, but we\u2019ve been expected some backing and filling or at least some sideways movement before the next leg up began. Instead we got some chopping and churning early in the week and blast off yesterday. Every index […]<\/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\/406"}],"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=406"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/406\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}