{"id":421,"date":"2009-07-29T06:30:01","date_gmt":"2009-07-29T11:30:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=421"},"modified":"2009-07-29T06:30:01","modified_gmt":"2009-07-29T11:30:01","slug":"before-the-open-19","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=421","title":{"rendered":"Before the Open (Jul 29)"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nWe entered this week with the trend being up but not crazy about initiating new long trades given the risk\/reward wasn\u2019t very favorable. So far, we\u2019ve gotten 2 days of range bound action and very little overall movement. The situation hasn\u2019t changed. The winning streaks have ended, but the trend remains solidly in place.
\nThe Asian\/Pacific markets closed down\u2026Europe is currently mixed with an upward bias. Futures here in the States suggest a moderate gap down open, … but this could change in the next hour.
\nThe SPX is up 60 points this month, so barring a massive sell-off the next 3 days, July will be the 5th consecutive up month. Not bad considering it\u2019s one of the worst months of the year and 3 of these 5 months have fallen in the \u201csell in May and go away\u201d period. Volume has declined, and I\u2019m not sure what to think about that. Volume should equate to votes\u2026the more volume, the more traders\/investors are voting in favor of a move. But so much of today\u2019s volume is computers trading back and forth with each other, I\u2019m not sure if the volume numbers are as telling as they once were.
\nHere\u2019s that monthly chart.
\n\"\"
\nAnd here\u2019s the weekly. The index traded through a significant trendline and is now within 25 points of the psychological 1000 level which happens to be the top Bollinger Band too. If I was a betting man, I\u2019d say the index pokes through, gets bulls even more exciting, breaks the backs of the bears and gets the media ecstatic. Then the market will correct.
\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 Wednesday. We entered this week with the trend being up but not crazy about initiating new long trades given the risk\/reward wasn\u2019t very favorable. So far, we\u2019ve gotten 2 days of range bound action and very little overall movement. The situation hasn\u2019t changed. The winning streaks have ended, but the trend remains […]<\/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\/421"}],"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=421"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/421\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}