I am posting this quick trade alert for the broad stock market and crude oil as it is close to the 4pm closing of markets in the U.S. I will post a more detailed blog later today. Basically, there was upbeat news today concerning the Greek debt crisis which has caused a surge in equity markets. This has triggered a buy signal in the stock market.
I am going to enter a long position in the broad stock market today with a stop loss at 17,700 in the DOW.
I am unloading my short position in crude oil today. The price of crude is closing a whisker above my entry point in early May so we can exit with little or no loss here.