Planet Wealth

At the time of this post, the market is floating around the flat line as traders are waiting to see what the next move is following the big Friday reversal.  Right around 2pm on Friday (coincidentally also at a support level) a rumour began to circulate on the trading floor that a bailout package of sorts was going to be offerred to Greece from the EU.  Almost instantly, the market began to reverse to the upside.  The bulls would like to see more follow through today to show it was an actual tradeable reversal.  Thus far however, it appears the Friday rally may have been simply short covering and profit taking (short side) heading into the weekend.