Wall Street's buoyant tone in the face of a potential Greek debt cataclysm could be an indication that a comprehensive deal is on the way, a trader said on Thursday.
Reports that Greek banks may not be able to open Monday after Greece failed to reach a deal with creditors did little to dampen the stock market rally. U.S. stocks closed about 1 percent higher, with the Nasdaq ending above its closing high set in late May and its all-time record high set in intraday trade in March 2000.
At least one market watcher thinks that may be a hint of better news on the horizon.
"Ultimately, what I think the market is telling you is in the 11th hour, over the weekend, that the threat of a Greek bank closing on Monday is going to put real pressure on [Greek Prime Minister Alexis] Tsipras and his government to finally come to the table and sign this deal," Kenny Polcari, director at O'Neil Securities, said in an interview with CNBC's "Closing Bell" Thursday.