As expected, the market moved today and it moved well. Most of the move was early on confidence that Greece would kick their mess down the street and our markets would not be damaged, at least for now. The Watch List lit up like a Christmas tree today and most triggered an entry. Of the stocks mentioned, I’m currently holding ROST on move through SMA50.
Now, I know most people are assuming we’ll be up tomorrow since Greece voted “in confidence” for the Prime Minister after market hours today. However, part of me believes that explains today’s price action and tomorrow it will already be old news and we’ll be back focusing on U.S. economic data and the Fed.
FOMC meeting reports at 12:30 and Ben speaks at 2:15. This will take center stage tomorrow and I don’t expect much market action until the afternoon. The morning might be a good time to book some profits and day trade ahead of FOMC.
Update from the Watch List:
More to watch for Wednesday later this evening