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Michael Ashbaugh

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Feb. 3, 2021, 12:06 p.m. EST

Charting a bullish reversal, S&P 500 nails the breakdown point

Focus: Retail sector asserts cooling-off phase, Homebuilders hold the breakout point, XRT, XHB, CYBR, KMX, SWIR, WIX

By Michael Ashbaugh, MarketWatch

U.S. stocks are mixed early Wednesday, treading water after a solid batch of quarterly earnings reports and economic data.

Against this backdrop, the S&P 500 has extended its rally from major support, rising to challenge its breakdown point (3,830). On further strength, the S&P’s record close (3,855.36) is not too distant.

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