{"id":432,"date":"2009-06-04T06:30:43","date_gmt":"2009-06-04T11:30:43","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=432"},"modified":"2009-06-04T06:30:43","modified_gmt":"2009-06-04T11:30:43","slug":"before-the-open-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=432","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Thursday.
\nThe market gave a little back yesterday. It\u2019s not what I wanted to see, but it is what it is. Given Monday\u2019s breakout, I would have preferred some more upside movement so we could get some separation from the former resistance level. Then the move would have looked like a more traditional breakout rather than a continuation of the higher highs and higher lows pattern. Volume did fall off for the forth consecutive day.
\nHere\u2019s the SPX daily. The uptrend continues. The trendlines are converging which makes this more of a wedge than a channel, but I\u2019m not too concerned right now. As long as 900 holds on a pullback, my bias will remain to the upside.
\n
\n60 min before tomorrow\u2019s open the unemployment numbers will be released. It\u2019s expected the number climbs over 9%, so the scene is somewhat set up for a positive surprise. In any case, a bad number shouldn\u2019t be a shock.
\nThe market is more likely to be slow than anything today because traders usually aren\u2019t very willing to place big bets or press the issue ahead of a potentially market moving item. For day traders, this means a strong early rally is probably shortable just as a sell-off being buying. For swing traders, manage positions individually. If they\u2019re holding up well, keep them. If not, dump them and move on.
\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 Thursday. The market gave a little back yesterday. It\u2019s not what I wanted to see, but it is what it is. Given Monday\u2019s breakout, I would have preferred some more upside movement so we could get some separation from the former resistance level. Then the move would have looked like a more […]<\/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\/432"}],"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=432"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/432\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}