Editor's Note:

The S&P 500 is up +3% in three days on end of quarter window dressing. It might continue tomorrow or stocks might see a sell the news move as Greece moves to its second vote (the implementation vote) on the austerity program.

If the rally continues then the S&P 500 will probably stall at resistance near its converging 50-dma and 100-dma near 1315, which would likely be followed by some profit taking. The very short-term bounce is quickly approaching resistance at the intermediate trend of lower highs. I am not adding any new plays tonight and volume will most likely grow less and less as we head toward the holiday weekend here in the U.S.

- James