{"id":837,"date":"2009-08-10T07:30:35","date_gmt":"2009-08-10T12:30:35","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=837"},"modified":"2009-08-10T07:30:35","modified_gmt":"2009-08-10T12:30:35","slug":"before-the-open-aug-10","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=837","title":{"rendered":"Before the Open (Aug 10)"},"content":{"rendered":"<p>Good morning. Happy Monday. Hope you had a nice weekend.<br \/>\nThe Asian\/Pacific markets closed mostly up, but gains were not outstanding. Europe is currently mostly down, but losses are not extreme. Futures there in the States suggest a small gap down open \u2013 barely noticeable.<br \/>\nLast week was a good one. All the indexes made a new swing high, and many key groups confirmed the move. It\u2019s noteworthy the Nas and semis started to lag late in the week \u2013 something to keep an eye on &#8230;<!--more--><br \/>\nHere\u2019s the SPX weekly. The index closed at its highest level since last October and into its thin trading area. It\u2019s also right at its upper Bollinger Band. I think this is an important level\u2026a level that could produce an hysterical squeeze or some stiff selling.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx081009-1.png\" alt=\"\" \/><br \/>\nHere\u2019s the 15-min chart. This rally has been as steady as possible. There\u2019ll be some support around 1000 (from the trendline and psychology), and after that there should be many layers of support should the bears decide to press the issue.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx081009-2.png\" alt=\"\" \/><br \/>\nThe trend is up; there\u2019s no point fighting it. But I remain in a defensive posture.<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\/stocks-in-focus-for-monday-aug-10-2009-08-07\">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\/blog\/?p=814\">Sector Performance<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=807\">Earnings Reports<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=809\">Economic Numbers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Monday. Hope you had a nice weekend. The Asian\/Pacific markets closed mostly up, but gains were not outstanding. Europe is currently mostly down, but losses are not extreme. Futures there in the States suggest a small gap down open \u2013 barely noticeable. Last week was a good one. All the indexes made [&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\/837"}],"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=837"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/837\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}