Good news out of Italy and Greece buoys stocks going into the weekend, as risk level abates. The potential for an upside breakout per a move above DJIA 12,200.
It's decision time for Greece and Italy. Expect a sharp rebound into Friday possibly to DJIA 12,030 (S&P 500: 1255) - a sell off late Friday without good news.
Yet another twist in the Euro-drama and global markets are roiled again. No telling what will evolve this week, but it is getting close to a buy for risk-takers.
While Greece seems to have sorted out its mess for now, the focus has shifted to Italy with speculation that Italian Prime Minister Berlusconi possibly stepping down.