NOTE: Please click on the charts below to enlarge them if they do not appear clearly.As anticipated, overhead resistance of the 50-day moving averages in the S&P and Dow weighed on the stock market yesterday. After gapping lower on the open, the major indices fell further in the first hour of trading, but stabilized and traded in a choppy, sideways range throughout the rest of the session. The resilient Nasdaq Composite held up the best, dropping 0.9%. The S&P 500 lost 1.2% and the Dow Jones Industrial Average fell 1.1%. The small-cap Russell 2000 and S&P Midc[...]
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[Source: The Money Blogs]
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