{"id":487,"date":"2009-05-20T06:30:13","date_gmt":"2009-05-20T11:30:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=487"},"modified":"2009-05-20T06:30:13","modified_gmt":"2009-05-20T11:30:13","slug":"before-the-open-57","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=487","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Wednesday.
\nThe market didn\u2019t do a whole lot yesterday. Early strength was matched by late weakness, and in the end, the indexes closes mostly down but no index lost more than 0.4%. That\u2019s not horrible coming off Monday\u2019s big move. Futures are up this morning.
\nOverall I continue to see nothing horribly wrong with the current action. Higher highs and higher lows remain in place. Some indicators are in overbought territory (they can stay overbought for a long time) while others are showing small signs of weakness. The charts themselves look constructive. A couple weeks of consolidation would not destroy the generally positive sentiment.
\nIt\u2019s at times like these (equal number of up and down days going back many weeks) that I remind myself it only takes one or two good trades each week to make a living trading. You don\u2019t have to trade every day, and you certainly don\u2019t have to trade many times per day. If all you did was make 1 or 2 points with 1000 shares a couple times per week, you\u2019d make six figures. Then when things are more clear, you could size up and trade more often. That\u2019s all. One or two good trades is all it takes, so you can wait for the good set ups and pass on the so-so ones.
\nHere\u2019s the SPX 15-min chart. A breakout from a falling wedge has left the index near the midpoint of its most recent range.
\n
\nOne or two good trades each week is all it takes, so pick your spots wisely.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch MarketWatch<\/a><\/a>
\nupgrades\/downgrades<\/a>
\nyesterday’s leaders & laggards<\/a>
\nearnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. The market didn\u2019t do a whole lot yesterday. Early strength was matched by late weakness, and in the end, the indexes closes mostly down but no index lost more than 0.4%. That\u2019s not horrible coming off Monday\u2019s big move. Futures are up this morning. Overall I continue to see nothing horribly […]<\/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\/487"}],"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=487"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/487\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}