James Taulman
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After a Rough Week – Market Opens Higher

The current rally remains under pressure as the major averages continued to pull back from their highs last week.

The Nasdaq fell for a fourth consecutive week, while both the Dow Jones Industrials and the S&P 500 closed lower for a third week in a row.

More importantly, the Dow and the S&P each closed below support of their 50-day moving average.

This is an area where these benchmarks had held above since 2/29.

Looking to today’s open – after a rough week, market opens Monday morning higher.

Still, going forward caution is advised and we should really turn our attention to our current positions.

Here is an update on a previous breakout from my Trendline SetUp WatchList.