Market dealt with important anniversaries........

Market was dealing with many anniversaries last week.

March 9th 2009 was the first one when S&P 500 was @ 666....

Japanese Tsunami is 1 year old, which disrupted many industrial production.

Greece had its 4th year of same old .

BUT...market has forgotten all past issues, as it looks ahead......

Greece "credit event" will entail $3.16 billion insurance payout, this is a small amount considering a big temporary resolution.

Market wants to go higher, despite overbought condition.

New buying should propel S&P 500 into 1400++++ area , this should bring more buyers & shorts to cover......1425 area looks like a very good possibility.

Greece issue is not going away, as it needs more & more funds. Greece is under close monitoring of many expectations. Greece needs to make major progress in its GDP ratios.......IF enough progress is not made, there may be severe ramification......

BUT...we have bought some time before Greece takes centre stage again.

Many traders were expecting sharp pullback, which has not materialized. Now that market is moving again, this should bring "panic participation".

Good luck with your strategy & your stock selection.

BLOG does NOT give buy or sell.

Saleem