{"id":4835,"date":"2011-09-08T07:30:27","date_gmt":"2011-09-08T12:30:27","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4835"},"modified":"2011-09-08T07:30:27","modified_gmt":"2011-09-08T12:30:27","slug":"before-the-open-sep-8-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4835","title":{"rendered":"Before the Open (Sep 8)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly up, but gains were small. Europe is currently mostly up; gains are small there too. Futures here in the States are down a couple points.
\n<\/span>
\nToday is rollover day for the eminis, so you’ll want to start trading the Dec contract if that’s your thing.<\/span>
\nThere are many charts which are much improved the last two days. There are many more charts which are still in bearish consolidation pattern, and all they’ve done is move off their lows. This enables the bulls to sleep a little better, but otherwise doesn’t change the fact that the overall trend is down.<\/span>
\nHere’s the 60-min SPX chart I’ve been working off. The Jan-Jul topping pattern broke down, and after a quick sell-off, the index has been resting in a bearish rectangle. Such a pattern becomes less relevant as time goes by because it needs to be proporational to the move into the pattern. We’re close to that point now. If the pattern doesn’t resolve down in the next week or so, it’ll be timed out. That doesn’t mean it can’t morph into something else, it just means I’ll stop watching this pattern and instead try to figure out what the updated price action means.<\/span>
\n\"\"
\nDown, up, down, up, down and now up. That’s been the last month. Gotta trade this market and be ahead of the curve taking profits, and you can’t worry about leaving money on the table. The turns are sudden and often involved gaps. Trade the market in front of you, not the market you want. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n