{"id":443,"date":"2009-06-09T06:30:59","date_gmt":"2009-06-09T11:30:59","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=443"},"modified":"2009-06-09T06:30:59","modified_gmt":"2009-06-09T11:30:59","slug":"before-the-open-35","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=443","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Tuesday.
\nIt looks like we\u2019ll begin the day with a small gap up. Futures are trading up a couple points.
\nYesterday was pretty dull until the last hour when the market surged higher and then gave half the gains back into the close. Other than the Friday before Memorial Day weekend, volume was the lightest it\u2019s been in a month.
\nFrom an analysis standpoint, the market isn\u2019t changing much day to day \u2013 the trend is up. Yes there are charts that would suggest the indexes are due to rollover or at least pause, but they\u2019ve been like that for several weeks and here we are not very far from new highs.
\nHere\u2019s the SPX weekly. It broke out from a 4-week wedge pattern but hasn\u2019t gotten much follow through. 950 is a key level it now has to deal with, and after that, as long as 975 isn\u2019t too tough to overcome, the target is 1025.
\n
\nHere\u2019s the daily SPX. There\u2019s nothing wrong with this chart. I\u2019ve been saying this for 6 weeks. Higher highs and higher lows are being registered. Given the move off the lows, it\u2019s ok to be less bullish, but there\u2019s no reason to be bearish.
\n
\nHere\u2019s the 60-min. Perhaps it\u2019s a slight concern the recent pattern is slanting up, but otherwise, there are no warning signs (although there\u2019s still an unfilled gap near 920).
\n
\nI feel like a broken record because the market has been grinding for so long, and I don\u2019t like over analyzing things. It\u2019s \u201c2 steps forward and 2 steps back\u201d and since the up days are bigger than the down days, we have a net gain. But the market as a whole isn\u2019t following through much. Trade the best patterns only \u2013 it only takes one or two good trades each week to make solid profits.
\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 Tuesday. It looks like we\u2019ll begin the day with a small gap up. Futures are trading up a couple points. Yesterday was pretty dull until the last hour when the market surged higher and then gave half the gains back into the close. Other than the Friday before Memorial Day weekend, volume […]<\/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\/443"}],"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=443"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/443\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}