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After a tentative night of negotiations in Europe, the S&P 500 futures went from "no deal" steep losses to sharp gains in the blink of an eye after a "deal" was made. The result was a gap open in the cash indices and the Dow ended the day up 217-points, closing near the day's high.

The U.S. charts look pretty good at this point, but China's and the European charts are at a make or break point as resistance is standing in the way. ...

TSP Talk Sentiment Survey results for the week of 07/13/15 - 07/17/15

The TSP Talk Sentiment Survey came in at 44% bulls, 42% bears.

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Stocks gapped up on Friday's open after an agreement with Greece was being portrayed as nearly a done deal. The Dow gained 212-points and most indies posted solid gains of over 1%.

The bad news? That optimism over a possible deal has waned over the weekend and the concerns have turned to the euro, so here we go again. Stocks could be under some pressure in Europe to start the week, and the S&P 500 futures opened with a loss of about 14-points (-0.70%) ...

It was a wild ride for stocks this week which was linked to the instability of the Greece bailout situation and reactions to movement in the recently fallen Chinese market. Despite the peaks and valleys you can see on the 5-day chart below, the S&P 500 ended about even with last week's close, so stocks came out virtually flat for the week.

The Greece situation is especially affecting the I-fund but the oversold EFA posted a couple of positive days to reduce the damage. Bonds were down ...

China bounced back on Thursday and that helped the U.S markets to open sharply higher on Thursday morning, but the Dow's gains of 250-points faded into the close and ended the day up just 33-points. We're seeing some bearish action in the markets but it is still up in the air if this is leading to something more serious, or if this is just another pullback that needs to be bought.

Optimism of a deal for Greece has the futures up sharply again on Thursday ...