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Michael Ashbaugh

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July 21, 2020, 11:54 a.m. EDT

Charting a bull-flag breakout, S&P 500 extends rally as volatility recedes

Focus: Europe’s slow-motion breakout attempt, Retail sector presses major resistance, IEV, XRT, SONO, FAST, FVRR

By Michael Ashbaugh, MarketWatch

Technically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, and continues to strengthen, amid recently receding volatility.

Against this backdrop, the S&P 500 has staged a bull-flag breakout — clearing major resistance (3,233) — while the Nasdaq Composite has registered its latest record close.

Link to MarketWatch's Slice.