{"id":412,"date":"2009-07-21T06:30:13","date_gmt":"2009-07-21T11:30:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=412"},"modified":"2009-07-21T06:30:13","modified_gmt":"2009-07-21T11:30:13","slug":"before-the-open-14","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=412","title":{"rendered":"Before the Open (Jul 21)"},"content":{"rendered":"<p>Good morning. Happy Tuesday.<br \/>\nSo the market couldn\u2019t correct even just a little the day after options expire. I guess that means the market is pretty darn strong \u2013 or the correction will be delayed.<br \/>\nHere\u2019s the daily SPX. We got a clean breakout from the falling rectangle pattern and now the index is at 950 resistance. Five of the last 6 days have been up; the index has rallied 75 points in this time period. How much further can it go before resting? Will it leave the gap just above 900 open? These are items I\u2019m wondering. &#8230;<!--more--><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx072109.png\" alt=\"\" \/><br \/>\nHere\u2019s the daily Nasdaq. It\u2019s up better than 20% in 2009 and is by far the strongest index. Trading just overhead is thin due to rapid drop and gap down in Oct.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/nas072109.png\" alt=\"\" \/><br \/>\nThe Asian\/Pacific indexes closed mixed; Europe is currently up across the board. Futures here in the States indicate a likely gap up open.<br \/>\nIn the back of my mind I\u2019m wondering if we\u2019ll get a false move up soon. Today would set the tone nicely\u2026a gap up followed by a gap fill followed by a move up which fails to make a higher high\u2026then we get a stiff down day. The trend is up; my bias is to the upside. But the market isn\u2019t going to continue up at a rate of 75 points every 6 days. It\u2019s got to do some backing and filling at some point.<br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nstocks to watch from <a href=\"http:\/\/www.marketwatch.com\/story\/tuesdays-biggest-gaining-and-declining-stocks-200972174900\">MarketWatch<\/a><br \/>\ntoday&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\nyesterday&#8217;s <a href=\"http:\/\/leavittbrothers.com\/leaders-laggards\/2009\/07\/20.cfm\">leaders &amp; laggards<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/economic-releases-earnings-reports\/2009\/07\/19.cfm\">earnings &amp; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Tuesday. So the market couldn\u2019t correct even just a little the day after options expire. I guess that means the market is pretty darn strong \u2013 or the correction will be delayed. Here\u2019s the daily SPX. We got a clean breakout from the falling rectangle pattern and now the index is at [&hellip;]<\/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\/412"}],"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=412"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/412\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}