{"id":442,"date":"2009-06-10T06:30:57","date_gmt":"2009-06-10T11:30:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=442"},"modified":"2009-06-10T06:30:57","modified_gmt":"2009-06-10T11:30:57","slug":"before-the-open-34","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=442","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nFor now the consolidation continues. Two Monday\u2019s ago the market broke out, but little follow through has been seen. For 6 straight days the indexes have been range bound, but things will get interesting at today\u2019s open. Premarket futures trading suggests a large gap up, so we\u2019ll get a chance to see who flinches first. Will the gap up cause momentum players to jump aboard for fear they\u2019ll miss the rally and shorts to cover or will this be another gap and crap day like?
\nThe trend is up, so my bias is to the long side. As I\u2019ve been saying, it\u2019s ok to be less bullish right now because market is well off its lows and drifting sideways but there\u2019s no reason to be bearish.
\nHere\u2019s the SPX daily. 950 is a key level \u2013 it will be challenged at today\u2019s open. I don\u2019t like the idea of another unfilled gap (should the market gap up and run), but it\u2019s not like this will be the only unfilled gap on the chart. The target I established a couple weeks ago is 975.
\n
\nHere\u2019s the SPX 15-min chart. As long as the futures don\u2019t pull back the next hour, today\u2019s open will be around last Friday\u2019s high.
\n
\nThat\u2019s it for now. Hopefully the market can break free from its range and we can get a little trending move that lasts into next week.
\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 Wednesday. For now the consolidation continues. Two Monday\u2019s ago the market broke out, but little follow through has been seen. For 6 straight days the indexes have been range bound, but things will get interesting at today\u2019s open. Premarket futures trading suggests a large gap up, so we\u2019ll get a chance to […]<\/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\/442"}],"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=442"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/442\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}