GREEKS GO GREEN >>> Wall Street Cheers EU Financial Aids For Neighbour

After exploring the red early in the session, stocks reversed course thanks to encouraging news from across the pond. A slew of euro-zone countries today pledged to support Greece through its sovereign debt drama, in an attempt to avert the country's descent into total default.

More specifically, European Council President Herman Van Rompuy promised that European leaders would take "determined and coordinated action if needed" in order to preserve the fortitude of the union. Though some of the details of the bailout weren't disclosed, the news of a rescue helped to pacify wary investors – and bolster the U.S. dollar index to a seven-month peak. Against this backdrop, and combined with a stronger-than-expected weekly unemployment report, the major market indexes finished with both feet planted firmly in the black.

The Dow Jones Industrial Average (DJIA – 10,144.19) recovered from early losses to finish with a 106-point, or 1.1%, gain. Thanks to today's triple-digit gain, the Dow finished back atop its 10-day moving average for the first time in more than a week. However, stifling the barometer's progress has been its 20-week trendline, which has acted as a technical roadblock in February.

For the most part the afternoon, trading was dull. A late-morning round of buying ended just before noon and the market spent the rest of the day drifting sideways. While the Dow traded in a low-to-high range of 185 points for the session, the afternoon was limited to a range of roughly 40 points.

The S&P 500 Index (SPX – 1,078.47) also pared early losses to settle with a gain of 10.3 points, or 1%. Like its blue-chip brethren, the SPX also reclaimed the support of its own 10-day trendline for the first time since Feb. 3. Finally, the Nasdaq Composite (COMP – 2,177.41) fared the best of the three, advancing 29.5 points, or 1.4%, by the close. The tech-rich index also scored a psychological victory by toppling its 10-day moving average – a feat not accomplished since Jan. 19.

The SPX, DJIA and COMP each closed above their late-January lows. The next hurdle is the 80-day moving average shown below. Last week's rally attempt was capped at this trendline so it is something to keep an eye on in the days ahead.

And that is where I will pick up in the morning.

Here's wishing you a profitable trading day.