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Michael Ashbaugh

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Jan. 6, 2020, 11:57 a.m. EST

Charting a bull-trend pullback, S&P 500 nails first support (3,215)

Focus: Crude oil breaks out amid geopolitical tensions, Oil services sector presses 200-day average, USO, OIH, OXY, COUP, PGR

By Michael Ashbaugh, MarketWatch

U.S. stocks are mixed early Monday — though firmly off session lows — vacillating in the wake of heightened geopolitical tensions.

Against this backdrop, the S&P 500 has pulled in from recent record highs, while still initially maintaining its first notable support (3,215). Monday’s early session low (3,214.6) has matched the inflection point.

Link to MarketWatch's Slice.