DOW - Are Bulls dressing up the H1 window?

Dow 12,188.69 +145.13 +1.21%

By: JeeYeon Park
CNBC News Associate

Stocks finished more than 1 percent higher across the board Tuesday, extending the previous day's rally, amid optimism over a solution for Greece's debt crisis and ahead of the quarter's end.

The Dow Jones Industrial Average jumped 145.13 points, or 1.21 percent, to finish at 12,188.69, marking another triple-digit gain to log its best day in over two months.

The S&P 500 advanced 16.57 points, or 1.29 percent, to close at 1,296.67. The tech-heavy Nasdaq climbed 41.03 points, or 1.53 percent, to end at 2,729.31.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, slipped near 19.

Among key S&P 500 sectors, energy and consumer discretionary were the top gainers.

However, volume was on the lighter side with the consolidated tape of the NYSE at 3.19 billion shares, while 804 million shares changed hands on the floor.


RELATED LINKS
Current DateTime: 04:24:18 28 Jun 2011
LinksList Documentid: 43560626
Markets: What Charts Say BofA Is 'Massively Undervalued'2 Restaurants Stocks to OwnRotation into Stocks to Drive S&P?
Despite the day's gains, some strategists still remain skeptical that the correction has come to an end.

"I'd like to see another 2-percent move in the Nasdaq and S&P and then I'll be more inclined to be a buyer on the strength," Matthew Cheslock, senior specialist of Cohen Capital Group told CNBC. "Right now, you can sell into this rally as you should be prone to do when there is buying."

Greek lawmakers are expected to vote Wednesday and Thursday on the austerity measures, which must be passed in order to receive the next payment of its bailout.

If the government does not get the next tranche, analysts said Greece could default on its debt, possibly sparking a Europe-wide crisis and potential credit market freeze.

Meanwhile, demonstrators gathered in central Athens at the start of a 48-hour strike to protest the vote.