Stocks Open Higher But Sell Off Into The Close

Stocks gapped higher this morning but sold off late in the afternoon on news that credit rating agency Moody's lowered its rating on Greece's debt to junk status.
The S&P tested the high of this month today but was unable to close above this key level. You'll notice in the lower panel that the MACD is on a clear buy signal. Recently, the MACD signals on this chart have been good for several weeks once we have a decisive crossing which is what we have now. Let's see what happens tomorrow.

Posted byKevin 

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