Stocks advanced Monday after eurozone leaders said they reached a deal to provide further bailout aid to Greece. Eurozone leaders would give Greece($96 billion) in fresh aid as long as the Greek Parliament by Wednesday passes pension overhauls and sales-tax increases that voters overwhelmingly rejected just a week ago. Fun times.
Our market liked it it, but Greece? Not so much, as Greek stocks gave up all opening gains to close in the red.
ALKS, KITE & PRTS triggered today. I also added FIT during market hours today.
The SPX closed just pennies under its 50 day moving average today, so this could be an area of some short term resistance. We’ll have to see. The Dow closed just above its 50 day and the Russell and Nasdaq closed comfortably above, so a good effort there.
KITE had a very nice breakout from its downtrend today. The technicals are looking good here.
Lets hope this setting up for a fine summer rally.