{"id":515,"date":"2009-08-04T06:30:43","date_gmt":"2009-08-04T11:30:43","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=515"},"modified":"2009-08-04T06:30:43","modified_gmt":"2009-08-04T11:30:43","slug":"before-the-open-64","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=515","title":{"rendered":"Before the Open (Aug 4)"},"content":{"rendered":"

Good morning. Happy Tuesday.
\nThe SPX moved above 1000 yesterday, but there were no fireworks. There was no mad rush to buy, and there was no urge to sell. The index merely moved above and below the level most of the day before closing near its intraday highs. I personally don\u2019t think the level means much other than offering the media something to talk about. From a technical standpoint, it\u2019s not resistance \u2013 it\u2019s no more important than any other level on the chart. Here\u2019s the weekly. The upper Bollinger Band sits right here, and thin trading exists above. Thin trading can act as like a gap …\u2013 not much volume took place so there won\u2019t be many traders looking to get out even.
\n\"\"
\nThe Asian\/Pacific markets closed mixed \u2013 there were no standouts. Europe is currently down across the board \u2013 most indexes are down at least 1%. Futures here in the States are down moderately suggesting a gap down open for the cash market.
\nThe move off the July low now has 3 unfilled gaps. Here\u2019s a 15-min SPY chart.
\n\"\"
\nMy approach remains the same. The trend is up; my bias is to the upside. But the market isn\u2019t going to continue at this pace forever. A 120-point SPX move in 16 days is pushing it. I\u2019ll day trade in either direction \u2013 whatever is appropriate. For swing trades, I\u2019m only interested in the long side, but the higher we go, the less favorable the risk\/reward gets, so we gotta play good defense. Don\u2019t give back hard earned profits. That\u2019s it for now. More after the open.
\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. The SPX moved above 1000 yesterday, but there were no fireworks. There was no mad rush to buy, and there was no urge to sell. The index merely moved above and below the level most of the day before closing near its intraday highs. I personally don\u2019t think the level means […]<\/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\/515"}],"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=515"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/515\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}