James Taulman
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Market Weakens – Our Stocks Shook Up on Earnings

After the official status of the market was moved to “Under Pressure” last Friday, the somewhat mild distribution-like action continues this week, especially for the Nasdaq.

The tech-laden index has now ended lower for six consecutive days in a row. The last three sessions were with above average volume. Yesterday, it closed just above its 50-day moving average.

Let’s watch and see if the 50-day, which is currently 4777.96 can be defended.

As far as our individual stocks – there are growing signs of weakness, although much of it can be attributed to earnings announcements.

Earnings announcements have wreaked havoc on several of the TrendLine Portfolio Stocks.