{"id":441,"date":"2009-06-11T06:30:56","date_gmt":"2009-06-11T11:30:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=441"},"modified":"2009-06-11T06:30:56","modified_gmt":"2009-06-11T11:30:56","slug":"before-the-open-33","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=441","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Thursday.
\nYesterday was a wild ride, but in the end the closing losses were relatively small and the consolidation period was maintained.
\nFor 7 straight days the market has moved in a tight range. Each dip gets bought; each rally gets sold. There have been lots of day trading opportunities, and we\u2019ve had our share of swing trades too \u2013 although our holding time on some has needed to be shortened.
\nHere\u2019s the SPX daily. I continue to see nothing wrong with this chart\u2026a solid rally off the March low turned into 4 weeks on consolidation during May and now we\u2019re getting another 2 weeks here in June. If you stare at your screen all day long, you\u2019ll be tempted to over-analyze the situation. If you back up and see the bigger picture, you\u2019ll see the trend is solid and there\u2019s no reason to guess a top.
\n
\nNews isn\u2019t very good. The unemployment rate is above 9%…gas prices are up 30% off their lows\u2026mortgage rates are up a full percent off their lows\u2026and the Fed Fund futures are started to predict small odds the Fed raises rates this fall. None of this is good yet the market keeps on keepin on. Imagine what would happen if we got good news?
\nTrade the charts\u2026not what you think should happen. The market is forward looking. It trades off what it anticipates down the line. Right now expectations are high. If the economy doesn\u2019t improve, then we\u2019ll deal with that later, but for now the trend remains up.
\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. Yesterday was a wild ride, but in the end the closing losses were relatively small and the consolidation period was maintained. For 7 straight days the market has moved in a tight range. Each dip gets bought; each rally gets sold. There have been lots of day trading opportunities, and we\u2019ve […]<\/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\/441"}],"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=441"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/441\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}