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Lawrence G. McMillan

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May 10, 2018, 12:12 p.m. EDT

Key technical indicators signal stock-market bullishness — except the most important one

Watch for two key levels on the S&P 500 chart

By Lawrence G. McMillan, MarketWatch


AFP/Getty Images

Just a little less than a week ago — late in the afternoon of May 3 — stocks were under pressure and had slipped below the S&P 500’s 200-day moving average.

But that moving average has been strong support for the last three months and it proved to be once again, as buyers came in with a flourish. They have not stopped buying since, and the S&P /zigman2/quotes/210599714/realtime SPX -1.12% has risen over 100 points in a short time.

/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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