The bulls aren’t taking no for an answer.
Futures were pointing towards a strong start after Greece approved austerity measures over the weekend and Barron’s said the Dow could go to 15,000.
The “final” word on if Greece will be saved and will get a much needed SECOND bailout package should come on Wednesday. We said if everything goes smooth the bulls could finally push our upper-end targets and after calling last week’s pullback we said the market could go either way this week.
The riots in Greece were ugly over the weekend with many buildings burned and businesses looted. There seems to be no confidence in the country and many of the citizens would rather go it alone instead of sticking with the euro. The short-term pain would be much easier to take than having to deal with austerity measures for the next decade so they say.
In any event, Wall Street cheered the news and the bulls are once again testing resistance.
The Dow is up 43 points to 12,844 while the S&P 500 is higher by 5 points to 1,348. The Nasdaq is showing a gain of 16 points to 2,919.
Some of our current trades are pushing higher so let’s go check the tape. Subscribers, check the Members Area for the updates.