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The S&P 500 has pulled back roughly 3% from its 4/20 closing high.  Today the S&P had its first test of its 50-day moving average (DMA) during this pullback.  Although the index breached its 50-DMA on an intraday basis, it managed to close nicely above it with a rally into the close.  Chart watchers and technicians can sleep easy this weekend.

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