{"id":410,"date":"2009-07-22T06:30:42","date_gmt":"2009-07-22T11:30:42","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=410"},"modified":"2009-07-22T06:30:42","modified_gmt":"2009-07-22T11:30:42","slug":"before-the-open-13","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=410","title":{"rendered":"Before the Open (Jul 22)"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nYesterday my hunch played out for all of half the day. The market gapped up\u2026dropped to fill the gap\u2026rallied and failed to take out the early-day high\u2026and then dropped. But it only lasted until 1:00 est when a bottom was put in place and a rallied followed.
\nMy bias is to the upside, but yesterday\u2019s action would suggest the market is stronger than I think. After rallying 75 points in 6 days, the SPX couldn\u2019t even give a little back. The Nas has now moved up 8 consecutive days. The Dow has moved up 7 consecutive days \u2013 the odds of this happening are teeny tiny. …
\nThe Asian\/Pacific markets closed mixed. Europe is mixed with a bearish bias, but there are no indexes that have moved more than 1% from their unchanged levels. Futures here in the States suggest a moderate gap down open.
\nMy hunch today is similar to yesterday. Overall the charts are in good shape, so my bias is to the upside, but short term, I\u2019m expecting some backing and filling. The market needs to rest before it attempts to leg up again. I\u2019m looking for a gap fill or near gap fill this morning with an outside chance yesterday\u2019s high is taken out (or close to it), and then I\u2019d expect sellers to step up again. If we see weakness out of the gate, I\u2019ll be looking to short the first bounce that follows.
\nHere\u2019s the SPX daily. Yesterday it closed at its highest level since early November.
\n\"\"
\nThe Dow and Nasdaq look similar \u2013 new closing highs. But the Russell is lagging and the financials have not kept up. The market will go nowhere without the small caps and financials. More after the open.
\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 Wednesday. Yesterday my hunch played out for all of half the day. The market gapped up\u2026dropped to fill the gap\u2026rallied and failed to take out the early-day high\u2026and then dropped. But it only lasted until 1:00 est when a bottom was put in place and a rallied followed. My bias is to […]<\/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\/410"}],"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=410"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/410\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}