50 DMA Line Becomes Resistance; Stocks End Shortened Week Flat

Friday, November 02, 2012 Stock Market Commentary: The major averages gave back earlier gains on Friday to end the shortened week relatively flat. The benchmark S&P 500, DJIA, and small-cap Russell 2000 pulled back after encountering resistance near their respective 50 DMA lines. For months, the 50 DMA line served as formidable support and it…