Market Action- Rally Under Pressure
The current rally which began with the Thursday, March 24, 2011 FTD is now under pressure as several of the major averages violated, and closed, below their respective 50 DMA lines. Remaining objective, it is bullish to see several leading stocks continue to act well (LULU, BIDU, DECK, PCLN, OPEN, SINA, etc) but the deterioration in the major averages should not be overlooked. If you are looking for specific help navigating this market, please contact us for more information.
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