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Michael Ashbaugh

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May 28, 2020, 12:09 p.m. EDT

Charting a primary trend shift, S&P 500 breaks decisively atop 200-day average

Focus: Real estate sector clears key trendline, Financials stage statistically unusual breakout, IYR, XLF, BAC, C, SPLK, NUE

By Michael Ashbaugh, MarketWatch

U.S. stocks are higher early Thursday, rising as the major benchmarks build on bullish, and potentially consequential, week-to-date price action.

On a headline basis, the S&P 500 has registered a decisive 1%+ break atop its 200-day moving average — on the first retest from underneath — raising the flag to a longer-term trend shift.

Link to MarketWatch's Slice.