Greek Stock Market Crash | August 3 Game Plan

Despite the poor earnings from TWTR and LNKD, the market held up pretty well.

The SPY closing price was within .37 Wednesday to Friday last week. The lack of price movement could be deceiving but it was actually constructive. We continue to hover near the top of the Great Trading Range of 2015 and the weekly chart gave us a Bullish U-turn.

If we can hold the 210 level this morning or Fridays low of $210.16 we should see buyers step back in.

August 3 Stock Market Today: Map of the S&P 500

(click the map for a full view)

spy map aug 3

Day Trading Game Plan: The SPY ETF Chart

SPY daily 20 ema and 50 sma have zero slope. The only piece of price action in the SPY you can hang a hat on is the weekly reversal higher. Very little edge here to trade off.

(click the chart for a full view)

greek stock market crash

Stocks to Trade | Monday August 3, 2015

Pete’s Notes:

  • Oil continues to get hit with selling.
  • Will be an interesting week for the financials. is GS rolling over now that it is comfortably below the 50 sma and will it drag the pack down?

Charts in Focus

D.R. Horton Inc.

DHI announced they are moving back to Arlington. The recent breakout looks great but needs a few days to consolidate the move to new highs before you jump in for a new long.

(click the chart for a full view)

greek stock market crash

Earnings in play today > 1M avg shares: AIG, NBL, TSN, CAR, CTRP, MCHP, ALL, THC, CDW, L, HSBC


Bearish Ideas ATR/Volume/Price: yelp, wll, uri, apa, rrc, bidu, eog, utx, cof, cvx, oxy, pxd, cat, mon, baba, apc, mmm, lnkd

Weak Stock Weak Close: wll, qrvo, mur, mro, atw, clr, cop, nov, rax, cvx, yhoo, xom, apc, lnkd

Strong Stock Weak Close: GOOGL, GPRO, TTWO, V, EBAY, NLSN, MA

Weak Stock Strong Close: YELP, COG, WFM, SFM, KATE, GPS

Strong Stock Strong Close: DEPO, NFLX, FIT, HOLX, JNPR, HZNP, TMUS,

20 day Breakdown: sune, xom, cvx, hbi, feye, cop, pg, lnkd, tasr

20 Day Breakout: CCE, DHI, FOXA, HCP, TMUS, WU

2x Normal Volume: sune, xom, cvx, hbi, feye, wu, wfm, cce, bby, tmus, lnkd, stx, amgn, tasr, tyc


Watch List Short: cop, cof, cvx, xom, bby, axp, dd, dow, intc

Inside days: msft, c, v, txn, rrc, abbv, luv, oxy, pot, cah, kors, eog, ma, ncr, wdc, hot, cl, lltc, cvc, dfs, ntap, scty, afl, cag, adi, hrb, twc, googl, goog, altr, sina

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Greek Stock Market Crash | August 3 Game Plan

Greek stock market crashes 20% on reopening

The Greek stock market crashed more than 20% Monday as it reopened for the first time in five weeks.

The benchmark index in Athens opened nearly 23% lower, with banking stocks among the biggest losers. The country’s four biggest lenders — Piraeus (BPIRF), Alpha Bank (ALBKF), the National Bank of Greece (NBG) and Eurobank were all down 30%.

Greece’s financial crisis forced the authorities to suspend all trading at the end of June to prevent a meltdown. Capital controls were introduced, including the closure of banks and financial markets. ATM withdrawals were limited to 60 euros ($66) per day.

The banks reopened on July 20, after Europe agreed in principle to a new bailout, but withdrawals remain limited to 420 euros ($455) a week.

Greek banks are in a dire state, relying on emergency cash from the European Central Bank to stay afloat. Greece’s new $96 billion bailout plan includes 25 billion euros ($26.7 billion) to recapitalize the banks.

But even with the bailout, investors are bracing themselves for huge losses as they may have to contribute to the rescue of the banks.

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Greek Stocks Crash 23% as Market Opens After 5 Weeks

Greek stocks crashed 23% at open after the stock market was closed for five weeks as part of the country’s capital controls measures.

Banking stocks were the worst hit, with National Bank of Greece’s share price hitting limit down after falling by 30% in the first minutes of trading. Banks are expected to need between 10 billion euros ($10.97 billion) and 25 billion euros in fresh capital from a third bailout for Greece, which is being negotiated with creditors now.

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