{"id":430,"date":"2009-06-01T06:30:41","date_gmt":"2009-06-01T11:30:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=430"},"modified":"2009-06-01T06:30:41","modified_gmt":"2009-06-01T11:30:41","slug":"before-the-open-22","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=430","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.
\nIt\u2019s official. GM has filed for bankruptcy. The company was more than 100 years old and had been the #1 car maker in the world for decades. They will now reorganize with the US government being a majority owner.
\nThe market doesn\u2019t seem too bothered by it. In fact, I\u2019d say there\u2019s a sense of relief that after months of talking and negotiating, it has finally and officially happened. The market doesn\u2019t like uncertainty. It removes a hovering cloud.
\nWorld markets are up across the board. Futures here in the States suggest a big gap up for the cash market. The S&P will open at a new swing high, so despite all the negative and all the advisory services which have been bearish, here we are breaking out. I\u2019ve said numerous times this isn\u2019t a normal market, and just because the market follow some path in some previous recession doesn\u2019t mean we\u2019ll follow it again.
\nHere are the daily charts. As I\u2019ve been stating for several weeks, there is nothing wrong with the market action. A two month rally has been followed by one month of consolidation.
\n
\nAnd here are the weeklies. If these flag\/pennant patterns are forming at the midpoints of their overall moves, we\u2019re looking at a nice summer rally, but this is a big IF.
\n
\nI can\u2019t say it enough. Trade what happens, not what you think should happen or want to happen.
\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 Monday. Hope you had a nice weekend. It\u2019s official. GM has filed for bankruptcy. The company was more than 100 years old and had been the #1 car maker in the world for decades. They will now reorganize with the US government being a majority owner. The market doesn\u2019t seem too bothered […]<\/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\/430"}],"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=430"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/430\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}