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Michael Ashbaugh

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April 1, 2020, 12:01 p.m. EDT

Charting a bear-market pullback, S&P 500 approaches key support (2,478)

Focus: Nasdaq nails the breakdown point, Market breadth signals waning bearish momentum for now

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly lower early Wednesday, pressured to start the second quarter after an ugly batch of economic data.

Against this backdrop, the S&P 500 has reversed from major resistance (2,650), while still thus far maintaining its first key support (2,478). The prevailing recovery attempt is intact, for now, amid still wide-ranging price action.

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