{"id":7328,"date":"2010-09-27T09:04:27","date_gmt":"2010-09-27T13:04:27","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=7328"},"modified":"2023-03-30T14:46:09","modified_gmt":"2023-03-30T18:46:09","slug":"morning-thoughts-4","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4","title":{"rendered":"Morning Thoughts on September 27, 2010"},"content":{"rendered":"

<\/p>\n

Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. <\/span>For today\u2019s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don\u2019t really want to be short this market unless after there is a very strong down move under 114.5 which makes it clear short term momentum has shifted. <\/span>If the market is able to consolidate above 114.5 I would expect for us to see 117.75.<\/p>\n

Two themes I am going to be looking for this week are two see if some rotation exists between financials\/ commodities and tech which have been the clear leader. If this rally is going to continue at these prices I expect to see other sectors start to follow.<\/p>\n

FOLLOW ME ON TWITTER AT JOEP_SMB<\/p>\n

SPY Levels<\/p>\n

115.13<\/p>\n

116<\/p>\n

117.75<\/p>\n

114.5<\/strong><\/p>\n

113.4<\/p>\n

\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. For today\u2019s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don\u2019t really want … Read More<\/a><\/p>\n","protected":false},"author":124,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1394,1366],"tags":[],"class_list":["post-7328","post","type-post","status-publish","format-standard","hentry","category-joe-ps-blog","category-market-structure","no-post-thumbnail"],"yoast_head":"\nMorning Thoughts on September 27, 2010 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Thoughts on September 27, 2010 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. For today\u2019s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don\u2019t really want ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-09-27T13:04:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T18:46:09+00:00\" \/>\n<meta property=\"og:image\" content=\"\" \/>\n<meta name=\"author\" content=\"Joe Palau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joe Palau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\"},\"author\":{\"name\":\"Joe Palau\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/ec5c13e6de78a8fd8875e87ee80d0a8f\"},\"headline\":\"Morning Thoughts on September 27, 2010\",\"datePublished\":\"2010-09-27T13:04:27+00:00\",\"dateModified\":\"2023-03-30T18:46:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\"},\"wordCount\":161,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage\"},\"thumbnailUrl\":\"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png\",\"articleSection\":[\"Joe P's blog\",\"market structure\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\",\"name\":\"Morning Thoughts on September 27, 2010 | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage\"},\"thumbnailUrl\":\"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png\",\"datePublished\":\"2010-09-27T13:04:27+00:00\",\"dateModified\":\"2023-03-30T18:46:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage\",\"url\":\"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png\",\"contentUrl\":\"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Morning Thoughts on September 27, 2010\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/ec5c13e6de78a8fd8875e87ee80d0a8f\",\"name\":\"Joe Palau\",\"sameAs\":[\"http:\/\/0\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/jpalau\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Morning Thoughts on September 27, 2010 | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4","og_locale":"en_US","og_type":"article","og_title":"Morning Thoughts on September 27, 2010 | SMB Training","og_description":"Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. For today\u2019s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don\u2019t really want ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2010-09-27T13:04:27+00:00","article_modified_time":"2023-03-30T18:46:09+00:00","og_image":[{"url":"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png","type":"","width":"","height":""}],"author":"Joe Palau","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Joe Palau","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4"},"author":{"name":"Joe Palau","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/ec5c13e6de78a8fd8875e87ee80d0a8f"},"headline":"Morning Thoughts on September 27, 2010","datePublished":"2010-09-27T13:04:27+00:00","dateModified":"2023-03-30T18:46:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4"},"wordCount":161,"commentCount":0,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage"},"thumbnailUrl":"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png","articleSection":["Joe P's blog","market structure"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4","url":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4","name":"Morning Thoughts on September 27, 2010 | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage"},"thumbnailUrl":"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png","datePublished":"2010-09-27T13:04:27+00:00","dateModified":"2023-03-30T18:46:09+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#primaryimage","url":"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png","contentUrl":"file:\/\/\/C:\/DOCUME%7E1\/GMAN%7E1.GMA\/LOCALS%7E1\/Temp\/moz-screenshot.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-4#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Morning Thoughts on September 27, 2010"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/ec5c13e6de78a8fd8875e87ee80d0a8f","name":"Joe Palau","sameAs":["http:\/\/0"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/jpalau"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/7328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/124"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=7328"}],"version-history":[{"count":1,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/7328\/revisions"}],"predecessor-version":[{"id":52231,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/7328\/revisions\/52231"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=7328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=7328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=7328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}