50 DMA Line Is Under Attack!

Market Action- Rally Under Pressure

The current rally which began with the Thursday, March 24, 2011 FTD is now under pressure as the Nasdaq 100 sliced below its respective 50 DMA line. Remaining objective, it is bullish to see the other popular averages all trading near 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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