After a strong gap down and sustained weakness, the market saw a strong pop on news that an EU/IMF/Greek plan was reached. The $QQQ finished at the highs, and dip buyers have been rewarded once again.
As I've said many times before, one day does not a trend change make, and all bounces have been violent and met with sellers shortly after. It will take time to see if a change in character will come into equities.
In this episode of IWO Into the Close, we discuss:
- Why the market isn't healthy at all right now
- How the commodity complex could get hit if certain conditions are met
- Continued relative strength in names like $BIDU, $CMG, and $LULU
- What you're not watching about the Euro, and why you should be
- Your individual requests
You can watch the episode below: