{"id":436,"date":"2009-06-18T06:30:49","date_gmt":"2009-06-18T11:30:49","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=436"},"modified":"2009-06-18T06:30:49","modified_gmt":"2009-06-18T11:30:49","slug":"before-the-open-28","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=436","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Thursday.
\nIt looks like the market will get off to an uneventful start. Asia\/Pacific closed mostly down and Europe currently leans to the downside.
\nThe long term trends remain down (the bounce off the March low has always been a bounce within a downtrend \u2013 albeit a big bounce). The intermediate term trend is up (higher highs and higher lows remain in place). The short term trend over the last week is down but considering the last month, sentiment is neutral.
\nWhen the trends conflict, it\u2019s best to lay low and not trade aggressively or actively. There are many market participants who are calling a top \u2013 they\u2019re saying the market is toast and we\u2019ll be taking out the lows later this summer. Maybe they\u2019re right, but they are the same people who missed the entire rally because they were waiting for the world to come to an end. I prefer trading the charts as they unfold \u2013 even if the movement doesn\u2019t make any sense.
\nHere\u2019s the daily chart. It\u2019s not in that bad of shape. 875 remains my key level.
\n
\nHere\u2019s the 15-min chart over the last 4 weeks\u2026an obvious breakdown from an up-sloping channel. The short term implications are bearish, so the bulls have some work to do if they\u2019re going to regain control.
\n
\nI\u2019m not trading aggressively here. More after the open.
\nheadlines at Yahoo Finance<\/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. It looks like the market will get off to an uneventful start. Asia\/Pacific closed mostly down and Europe currently leans to the downside. The long term trends remain down (the bounce off the March low has always been a bounce within a downtrend \u2013 albeit a big bounce). The intermediate term […]<\/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\/436"}],"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=436"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/436\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}