{"id":434,"date":"2009-06-02T06:30:46","date_gmt":"2009-06-02T11:30:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=434"},"modified":"2009-06-02T06:30:46","modified_gmt":"2009-06-02T11:30:46","slug":"before-the-open-26","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=434","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Tuesday.<br \/>\nWe got across the board breakouts yesterday from the indexes. A two month rally was followed by one month of consolidation which has now been followed by a breakout and new swing highs. The charts look very good as we enter the stretch of the five worst months of the year.<br \/>\nVolume was strong. This is certainly what we want to see on a breakout, but it\u2019s also something that could lead to a blow-off top \u2013 a last ditch effort by the shorts to cover and bulls to join the party. I\u2019m not predicting such a scenario, but it is something that\u2019s in the back of my mind. Follow through over the next couple days would go a long way to solidifying the breakout.<br \/>\nHere\u2019s the daily SPX I posted at the end of April when it was flirting with breaking out at 875. Target #1 was hit within a week or breaking out. Target #2 is now in play.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx060209.png\"><br \/>\nIf you want to be less bullish today than you were two months ago, that\u2019s fine. The market has rallied huge off its low, so there\u2019s less meat on the bones now. But there\u2019s no reason to be bearish.<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-20096281300\">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\/06\/01.cfm\">leaders &#038; laggards<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/economic-releases-earnings-reports\/2009\/05\/31.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Tuesday. We got across the board breakouts yesterday from the indexes. A two month rally was followed by one month of consolidation which has now been followed by a breakout and new swing highs. The charts look very good as we enter the stretch of the five worst months of the year. [&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\/434"}],"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=434"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/434\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}