{"id":450,"date":"2009-06-22T06:30:08","date_gmt":"2009-06-22T11:30:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=450"},"modified":"2009-06-22T06:30:08","modified_gmt":"2009-06-22T11:30:08","slug":"before-the-open-43","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=450","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.
\nLooks like we\u2019ll start the week on a down note. The Asian\/Pacific markets didn\u2019t do so badly, but Europe is down across the board and futures here in the States suggest decent gap downs at today\u2019s open.
\nThe World Bank has cut its 2009 global growth forecast, but this isn\u2019t the cause of today\u2019s weakness. Most of the selling in the futures market took place between 2:00 and 5:00 o\u2019clock in the morning, and the World Bank news didn\u2019t hit the wires until after 6 am.
\nI\u2019m not going to repeat charts that were posted over the weekend. As was the case last week, the overall charts don\u2019t look too badly, but the breadth indicators suggest some internal deterioration. I\u2019m neutral right now and can make a case for a move up or down.
\nHere\u2019s the 15-min SPX chart. The index broke down at the beginning of last week and now trades in a bear flag pattern which of course had negative implications. If the current futures level holds, the index will gap down to around 914.
\n
\nBacking up, here\u2019s the 60-min chart. The index is trading smack in the middle of its 7-week range.
\n
\nSometimes trading is easy and obvious; sometimes the coast isn\u2019t so clear, so trading is more challenging. Right now the later applies. Research this weekend revealed a handful of decent set ups in both directions, but not much jumped out as obvious, no-brainer set ups. Be conservative here.
\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 Monday. Hope you had a nice weekend. Looks like we\u2019ll start the week on a down note. The Asian\/Pacific markets didn\u2019t do so badly, but Europe is down across the board and futures here in the States suggest decent gap downs at today\u2019s open. The World Bank has cut its 2009 global […]<\/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\/450"}],"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=450"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/450\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}