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Michael Ashbaugh

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Aug. 9, 2019, 12:21 p.m. EDT

Charting a volatility spike, S&P 500 whipsaws at the breakdown point (2,912)

Focus: U.S. sector rotation surfaces with a defensive-leaning tilt, IYT, XLF, IYR, XLV, XLB

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly lower early Friday, pressured amid the latest signs of heightened China-U.S. trade tensions.

The early downturn punctuates Thursday’s bullish reversal, a rally that briefly placed the S&P 500 atop the breakdown point (2,912). An extended retest remains underway, and the weekly close will likely add color.

Link to MarketWatch's Slice.