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Michael Ashbaugh

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July 28, 2020, 12:13 p.m. EDT

Charting a (bullish) holding pattern, S&P 500 digests break to 5-month highs

Focus: Semiconductor sector tags record high, Metals & Mining sector reclaims 200-day average, South Korea’s breakout attempt, SMH, XME, EWY, NFLX, HCA

By Michael Ashbaugh, MarketWatch

Broadly speaking, the U.S. benchmarks are acting well technically, though amid increasingly sideways late-July price action.

Nonetheless, range-bound is bullish, against the prevailing backdrop, and the S&P 500’s intermediate-term path of least resistance continues to point higher.

Link to MarketWatch's Slice.