Stocks open the week higher but weighed down by ongoing Greek debt saga. However, positive existing and new home sales in US provided a glimpse of hope for the second half of the year. For the week S&P 500 index closed at 2101, down 0.4%, Dow Jones Industrial Average lost 0.38% and Nasdaq composite index ended up lower by decreasing 0.7%.
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| Weekly chart of S&P 500 Index |
Technical picture of S&P 500 index remains the same. In the weekly chart, the index still stays above its 28 week moving average, while the momentum has stopped falling. It appears that market is awaiting the outcome from Greek debt situation, and we just have to see how that plays out.
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