Greek Bailout Deal | Trading Game Plan July 13

Can the buyers stick around for two consecutive days after the open?

Will today be sell the news?

Another Greek bailout deal day, another gap in the direction of the story. The two-way action and increase in volatility has created a great market to day trade. The open has been a little challenging to call but once the dust settles around 10 am there are solid trends and reference points in place to manage risk.

July 13 Stock Market Today: Map of the S&P 500

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Greek Bailout Deal

Day Trading Game Plan: The SPY ETF Chart

SPY resistance was the $208 area last ten days, with this morning’s gap higher it should be the new support. If today turns into “sell the news” and we break below the 205-208 trading range, I officially become a bear on the SPY.

(click the chart for a full view)

Greek Bailout Deal

Stocks to Trade | Monday July 13, 2015

Pete’s Notes:

  • Quite a few energy stocks break 52 week lows.
  • Basic materials weakest across the board last week. Look for follow-through.
  • GS trading on either side of it’s 50 ema, quite a few red candlesticks with volume. Need a high volume close above the open to re establish a bullish tone.

Interesting Chart Lessons:

AMZN | Amazon.com Inc.

AMZN has danced in a trading range since it’s last earnings report. The $445 area is the level it needs to hold to feel confident bidding a break out. There is a “wick” at $450 but I am not using that as resistance since it couldn’t stay there for more than one day.

(click the chart for a full view)

Greek Bailout Deal

Earnings in play today > 1M avg shares:

Bullish Ideas ATR/Volume/Price: WMB, MBLY, TSO, HCA, WBA, RCL>85, FB, NKE, LLY, CVX, PSX>82, UNH, DE, AMZN, TWC, ACN, NFLX

Bearish Ideas ATR/Volume/Price: yelp, clr, csiq, sndk, isis, wdc, gmcr, fslr, baba<80, uri, slb, utx, hes<64

Weak Stock Weak Close: clr, atw, esv, gmcr, rrc<45, swn, apa, mur,

Strong Stock Weak Close:

Weak Stock Strong Close: coh,

Strong Stock Strong Close: WMB, TSO, VLO, RCL, PSX

20 day Breakdown: gps

20 Day Breakout: ppl, tso, wba

2x Normal Volume: lbtya, gps, adsk, dtv, wba

Watch List Longs: DIS, BMY, CVS, SBUX, UNH, ABT, TWC, LEN, EBAY

Watch List Short: swn, hal, slb, bhi, cop, cvx, xom, dd, txn, intc, ntap, lltc, hpq, kl;ac

Inside days: aapl, intc, t, msft, csco, ko, qcom, gm, twtr, yhoo, xom, txn, emc, mo, pep, dtv, csx, cvx, wmt, cop, dd, pot, aet, cat, oxy, tgt, bidu, adbe, de, qihu, hon, ntap, ip,. m, crm, yelp, kss, amba

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Greek Bailout Deal | Top News on Greece Agreement

Eurozone ‘aGreekment’ bailout deal staves off Greek exit

There will be no immediate eurozone exit for Greece after eurozone leaders Monday morning agreed on a third bailout deal for the country in exchange for strict reform measures.

Speaking after a marathon weekend summit, President of the European Council Donald Tusk said the leaders had reached an agreement in principle to start negotiations on financial aid through the eurozone’s bailout fund, the European Stability Mechanism, or the ESM.

“Today we had only one objective — to reach an agreement. After 17 hours of negotiations we have finally reached it. Someone can say we have an ‘aGreekment,’” he said.

“The decision gives Greece the chance to get back on the track for support from European partners. It also avoids the social, economical and political consequences that a negative outcome would have brought,” he added.

The deal will now have to be approved by national parliaments, including the Greek parliament, before the formal ESM negotiations can begin. The formal decision is expected by the end of the week.

To help Greece meet its short-term financing needs, eurozone finance ministers will discuss so-called bridge financing, Tusk said.

Continue reading on marketwatch.com

Eurozone, Greece reach agreement on bailout

Eurozone leaders reach agreement on Greek bailout, removing threat of euro exit for now

BRUSSELS (AP) — A summit of eurozone leaders reached a tentative agreement with Greece on Monday for a bailout program that includes “serious reforms” and aid, removing an immediate threat that Greece could collapse financially and leave the euro.

Nine hours after a self-imposed deadline passed, the leaders announced the breakthrough early Monday.

If the talks had failed, Greece could have faced bankruptcy and a possible exit from the euro, the European single currency that the country has been a part of since 2002. No country has ever left the joint currency, which launched in 1999, and there is no mechanism in place for one to do so.

For three days of negotiations between Greece and its international creditors, Greek Prime Minister Alexis Tsipras held out for a better deal to sell to his reluctant legislature in Athens this week, even though financial collapse is getting closer by the day.

A breakthrough came in a meeting between Tsipras, German Chancellor Angela Merkel, French President Francois Hollande and EU president Donald Tusk. Details were not immediately available.

Continue reading…

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