Futures See Muted Reaction to Greek Deal

Stock futures point to a slightly higher open Tuesday morning following the long holiday weekend in the US. After a weekend of banter in Europe, the parties finally got a satisfactory deal done in Greece that will prevent a default on March 20. China also announced monetary easing plans.

Sunday night the futures were up 8+ handles, but have been fading each day. Right now they are up small. Traders were probably looking to see if they can “fade” or sell the “excitement” of the deal. Not much excitement this morning to sell as we are flattish.

Technically, it would be constructive to do some work over the recent highs of 1353-1355 before trying to take out last year’s high of 1370. Under that the 10day moving average, which we’ve been riding pretty well, is 1350. This will be an important spot to trade against.

Disclosures: Scott Redler is long SPY, OIH, QCOM, INTC, JPM, IBM. Short QQQ.

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

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