Greece Agrees on Bailout Deal | Game Plan August 11

Anything but a boring summer of trading related news…

The stock market has given us plenty of opportunity, you simply need to be prepared. Not a trading environment for the lazy trader.

China’s devaluation of the yuan this morning and Greece agrees on a bailout deal. This pushed the dollar higher and increases the possibility of a currency war.

Quite a few stocks closed strong yesterday. Today’s lower open could prove to be the price action the bulls need to trade with conviction. If we open lower and rally, despite the news, we could finally see a move to the $215 level in the SPY.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Greece Agrees on Bailout Deal

Day Trading Game Plan: The SPY ETF Chart

SPY price action has produced two clear higher lows. Nothing to get excited about we are still lacking clear order flow. Day-to-day momentum is all we have in the indices. Much better trades in individual shares. E-mini traders must be pulling their hair out.

(click the chart for a full view)

Greece Agrees on Bailout Deal

Stocks to Trade | Tuesday August 11, 2015

Pete’s Notes:

  • Oil and gas stocks bottoming out. Quite a few of them with 2X volume.
  • Stronger large cap stocks not getting bullish follow through: AMZN, NFLX, TSLA
  • AAPL $7 bounce back to resistance. Today will be interesting to note for a longer-term trade. We will see if TV services are a significant catalyst.

Charts in Focus

Valero Energy Corporation VLO

VLO Chart: A perfect pattern for today’s range-bound market. Inside days have dropped some nice trades in our lap. VLO lined up yesterday with close to a double inside day and produced a beautiful trend day. Scroll down to see today’s list of inside days.

(click the chart for a full view)

Greece Agrees on Bailout Deal

Earnings in play today > 1M avg shares: symc, cybr, cree, fosl, acm, csc, bld, rcpt


Bearish Ideas ATR/Volume/Price: wll, qrvo, gmcr, twtr, wpz, dvn, utx, bidu, hot, grub,

Weak Stock Weak Close: bkd, fox, rax, sfm

Strong Stock Weak Close: NFLX, TEVA, AMGN, JBLU, DEPO,

Weak Stock Strong Close: wll, qrvo, tasr, uri, rrc, mur, joy, cop, atw, pwr, nbl, cog, epd, hes, cvx, oke, mat, anf, gps, grub, tsm, xom, se, aapl, hpq

Strong Stock Strong Close: NVDA, HFC, CDNS, TSO, TMUS, VLO, PSX

20 day Breakdown: cien, jd

20 Day Breakout: AXP, NVDA, SYY, TS, TSO


Watch List Longs: BK, MO, USB, VLO, PRU, HON, PM, PNC, WFC, HD>118, TJX, JPM, ABT, EBAY, JNPR, C, ADBE,

Watch List Short: cop, bby, adm, dow, dd, hpq

Inside days: kmi, nflx, bax, eog, aal, dbn, wmt, fit, dd, ms, lvs, cf, cbs, coh, cce, scty, apc, car, tgt, sti, dyn, aep, wba, oke, dg, pxd, hcn, trip, etfc, gs, swft, d,

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Greece Agrees on Bailout Deal | Game Plan August 11

Greece bailout agreed ‘in principle’: European Commission

Greece and its lenders have agreed on the technical details of a third bailout, a spokesperson for the European Commission confirmed Tuesday, but a political agreement still needs to be secured.

Speaking at the Commission’s midday press briefing, Annika Breidthardt, spokesperson for Economic and Financial Affairs, told reporters that technical talks had been concluded late last night.

While a bailout was “agreed in principle on a technical level…the Commission won’t comment on other details until political agreement is reached,” she said.

“Nothing is agreed until everything is agreed. We’ve had an agreement in principle,” she said, although she remained tight-lipped about the details still to be ironed-out.

The president of the Commission, Jean-Claude Juncker, was talking to teams on the ground in Greece, she said, and would talkto German Chancellor Angela Merkel and French President Francois Hollande.

Greece and its lenders have agreed the terms of a new bailout, a Greek Finance Ministry official told CNBC.

The official, who asked to remain anonymous, told CNBC that an agreement had been reached and there were some “minor details” left to be discussed.

Continue reading more about the Greece bailout deal on

Greece says bailout deal broadly agreed

Greece says it has broadly agreed the substance of a bailout deal with its creditors, according to Greece’s finance minister Euclid Tsakalotos.

“Two or three small issues,” are yet to be resolved with lenders, Mr Tsakalotos said.

The European Commission said a technical agreement had been reached with Greece, and that a political agreement was pending.

A deal is needed keep the country in the eurozone and avert bankruptcy.

The Greek government is hoping to push the new €86bn (£60bn) three-year agreement through parliament later this week.

The country needs a deal by 20 August, when the country has a debt repayment of about €3bn to make to the European Central Bank.

Greece will not be able to make that payment without funds emerging from the country’s third bailout in just over five years.

Emerging from all-night talks at a central Athens hotel with negotiators representing Greece’s creditors, Mr Tsakalotos said: “I think we are very close.”

“Two or three very small details remain,” he added.

Earlier, Reuters quoted a Greek official as saying an agreement had been reached.

Greece has agreed the function of a new independent privatisation fund, and how non-performing bank loans will be administered, according to the official.

Both issues had been key sticking points in negotiations.

“Finally, we have white smoke,” the official was quoted as saying.

Continue reading more as Greece agrees to bailout deal on

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Passion4Trading Reply

Hey Pete fyi you have VLO chart posted

    Pete Renzulli Reply

    You’re right.
    Thanks Lou.

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