12:30pm (EST)
The market went into the weekend looking for some kind of resolution to a second Greece bailout and futures were strong on Sunday night heading into Monday’s meeting in Brussels between Europe’s top brass.
The get together stretched late into the evening but after more finagling, an agreement was finally reached. There are still implantation risks but we will save those worries for another day as the bulls are pushing our near-term fluff targets.
Sailing wasn’t all smooth, however, as the major indexes dipped into the red 20 minutes after the open. Despite a brief attempt by the bears to slow the momentum, the bulls were able to brush back their attack.
The Dow broke above 13,000 about 2 hours into trading as has since flip-flopped above and below this level. The blue-chips are currently up 45 points to 12,995 while the S&P is higher by 5 points to 1,367. The Nasdaq is showing a gain of 7 points to 2,959.
We covered a lot of information this morning as far as the market and what targets to look for this week. Let’s leave it there for now because we have a NEW TRADE we are releasing.
The stock was on our Watch List all last week and shares are slightly lower as we head to press which is allowing us a great opportunity to get into the options. Subscribers, check the Members Area for the details and please use limit orders to get the best fill prices. We will be back in the morning with our next update.
