A bail out deal for Greece seemed to have been a spark for the US market overnight, the Dow Jones putting on more than 150 points or 1.2%. This proved a solid lead for our market which put in a fair effort, the XJO closing 1% and 46.9 points higher for the day. For the week, a respectable 129.33 points or 2.89% higher. The stark difference between the ASX and the major US indices is that, whilst they have been range-bound, the US are closing in on the upper boundaries and threatening to break upward whilst the ASX is just bouncing off support and nowhere near upper resistance. Whilst the XJO and All Ordinaries have enjoyed a nice bounce over the last few days, absent is volume as was present off the March lows, so whether it has the capacity to go with much further upside remains the question. Next week should prove interesting.

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