VIDEO UPDATE: Watch Blain’s Market Report here!
The action in the indexes continues to improve. For weeks we had a lot of gap ups in the morning and then during the actual session sellers would come in. Today we had the opposite, premarket selling and buyers came in during the actual session. This is what bulls want to see. The S&P 500 gained 0.26% and the NASDAQ 0.29%. There was some morning jitters about Greece where the anti-austerity Syriza party won 149 out of a 300 possible seats in Parliament. However we have seen over and over when push comes to shove nothing ever really happens in Europe – Germany and Greece will figure something out and life will continue. Looking ahead we have a Federal Reserve announcement Wednesday but nothing is expected there so we should begin to see focus turn to earnings this week (and oil).Continue reading