Market Action- Rally Under Pressure
The current rally which began with the Thursday, March 24, 2011 FTD is now under pressure as the Nasdaq composite & Nasdaq 100 both closed below their respective 50 DMA lines. Remaining objective, it is bullish to see the other popular averages all trading near to slightly above their respective 50 DMA lines. However, if that important level is breached, then lower, not higher prices, likely lie ahead. If you are looking for specific help navigating this market, please contact us for more information.
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