Reversal in Greece Restores Debt Deal Optimism
The Wall Street Journal summed it up the best: “Greece Blinked”. For the good of the financial world, it’s very good that that they did.
The markets are now slightly overbought but more importantly many are now hovering around the 200-day MA (especially SPY). In the perfect world, I’d love to see a good rally followed by a pullback which will allow us again to start trading on the long side in the ETFs. While we’re waiting for this to play out, we’ll continue trading the long equity opportunities as they become available.
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Larry Connors is founder of TradingMarkets.com