Market Comment 06 28 11

We had a good day in the market today. We are still not out of the woods yet, but the markets are beginning to stabilize. We are once again approaching the S&P 500 resistance area at the 1300 level.

Notice on the chart below that the 200 Day Moving average is acting as support. We have bounced off it twice now. I will add more equity positions on dips.

(Click on chart for easier viewing)

The Greek Parliment votes on their austerity program late tomorrow. The market is pricing in a yes vote. If  they produce a no vote the market could sell off dramatically.

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