Stocks finished off the week on a low note as the Dow failed to hold 1o,ooo and volume accelerated. The week as a whole was not bad though. The S&P finished the week up 1.5% to put the rally at just under 61%.

I’ve got all the pullbacks marked on the chart above and from the looks of things, it would be reasonable to expect the markets to fall to the 20MA or further. With that said, it is a time to be cautious and refrain from adding new long positions until we see more strength.