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Michael Ashbaugh

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Nov. 3, 2020, 12:05 p.m. EST

Charting a bullish reversal, S&P 500 spikes from key support amid election overhang

Focus: Europe digests technical breakdown, Emerging markets maintain key support, IEV, EEM, COST, PINS, SNE, EGHT

By Michael Ashbaugh, MarketWatch

Technically speaking, U.S. stocks are off to a strong November start, rising respectably to begin the best six months seasonally — November through April.

Against this backdrop, the S&P 500 has extended a rally from major support (3,233), rising within striking distance of a key bull-bear inflection point closely matching the 50-day moving average.

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