Markets Advance Cautiously

The markets opened lower today on continued fears out of Greece. While an aid package is already inked and ready to go, it looks like officials are unwilling to give Greece the money until they see what happens in the coming days with the Greek government and more austerity cuts. This stall had the futures on edge early in the morning. As the markets opened lower, a bid came in, lifting them nicely to the positive side. While the gains are minor at this point, it is a positive move for a market that has seen week after week of losses.

As the lunch hour arrives, the SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.49, +0.44 (+0.35%). There is definitely a slow volume effect on the markets today. As the markets have drifted higher, very little volume is being seen. After a wild options expiration last week, it appears some traders are taking it lighter today. This generally has a beneficial effect on the markets.

There are two standout stocks not participating in the overall up move in the markets. Their names are Google Inc. (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL). This is keeping the Nasdaq just barely positive today. In addition, the financial stocks are under pressure after a couple institutions cut price targets for the group. While this cut was made this morning, the stocks have recovered a majority of their losses and are just trading slightly lower. The low pivot from two weeks ago seems to be in and holding. Upside is likely.

About Gareth Soloway 168 Articles

Affiliation: InTheMoneyStocks.com

Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com. Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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