{"id":449,"date":"2009-06-24T06:30:07","date_gmt":"2009-06-24T11:30:07","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=449"},"modified":"2009-06-24T06:30:07","modified_gmt":"2009-06-24T11:30:07","slug":"before-the-open-41","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=449","title":{"rendered":"Before the Open"},"content":{"rendered":"<p>Good morning. Happy Wednesday. Happy Fed Day.<br \/>\nToday Ben Bernanke and Co. target the overnight rate and set the discount rate. The rates can\u2019t be lowered, so the only question is whether they\u2019ll be raised or not. They won\u2019t be so \u2013 at least that\u2019s what everyone thinks \u2013 but the language they use in their statement will be closely analyzed. Will they start talking tough or will they let it be known rates will be kept low for a long time? This could be a market mover. The bulls are on thin ice here, and the bears would love a reason to press the issue on the downside. But the bears have been wrong a few times during this rally, and the trend is still up (on the daily chart). The market\u2019s reaction will be important, but more important will be the market\u2019s reaction tomorrow because often the post-Fed move is reversed the next day.<br \/>\nHere\u2019s that SPX 60-min chart. It\u2019s been range bound for almost 8 weeks.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/stocks-options-futures-trading-before-the-open\/images\/spx062409.png\"><br \/>\nThat\u2019s it for now. It\u2019ll likely be a slow day until the 2:15 pm announcement. I\u2019ll post more stuff on the Market Window as the day rolls on.<br \/>\nOT ->> Go Longhorns!!!<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\/wednesdays-biggest-gaining-and-declining-stocks-200962482300\">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\/23.cfm\">leaders &#038; laggards<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/economic-releases-earnings-reports\/2009\/06\/21.cfm\">earnings &#038; economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Wednesday. Happy Fed Day. Today Ben Bernanke and Co. target the overnight rate and set the discount rate. The rates can\u2019t be lowered, so the only question is whether they\u2019ll be raised or not. They won\u2019t be so \u2013 at least that\u2019s what everyone thinks \u2013 but the language they use in [&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\/449"}],"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=449"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/449\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}