{"id":416,"date":"2009-07-17T06:30:27","date_gmt":"2009-07-17T11:30:27","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=416"},"modified":"2009-07-17T06:30:27","modified_gmt":"2009-07-17T11:30:27","slug":"before-the-open-16","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=416","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Friday. Happy Options Expiration Day.
\nThose bullish index charts I posted over the weekend when we were considering both the bullish and bear possibilities are certainly playing out well. The Dow has cleanly broken out\u2026the Nasdaq has already taken out its June high\u2026the S&P is only 16 point from its own new high\u2026and the Russell isn\u2019t doing too badly either; it cleared resistance at 520 yesterday and now needs some follow through. But now the indexes are up against their upper Bollinger Bands on their daily charts, so odds favor a rest coming soon. Here are the charts.
\n
\nAnother trend worth watching involves the price action before and after options expiration. The trend isn\u2019t as strong now as it was last year when the market typically rallied into OE and then sold off after. This is something to be aware of early next week.
\nGOOG topped Wall St. estimates but posted very little revenue growth due to less online advertising. The stock is down 2% before the open.
\nBAC and GE also topped expectations but are trading down.
\nThe Asian\/Pacific markets closed up\u2026Europe is currently mixed with a bullish bias\u2026futures here in the States suggests a moderate gap down open. This comes on top of some late-day selling yesterday. As of today\u2019s open, half of yesterday\u2019s gain will be gone.
\nIt\u2019s Friday; it\u2019s summer. The trend coming into this week was down, and now it\u2019s up. The charts, which take time to set up in tradable patterns, are a little messy. Play good defense and be open minded. Anything goes for next week.
\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. Happy Options Expiration Day. Those bullish index charts I posted over the weekend when we were considering both the bullish and bear possibilities are certainly playing out well. The Dow has cleanly broken out\u2026the Nasdaq has already taken out its June high\u2026the S&P is only 16 point from its own new […]<\/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\/416"}],"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=416"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/416\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}