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Michael Ashbaugh

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Aug. 2, 2018, 11:58 a.m. EDT

Nasdaq nails trendline support (again), bullish intraday reversal underway

Focus: 10-year yield nails the range top, Homebuilders under pressure, Real estate sector rally?, TNX, XHB, IYR, MSFT, FLIR, VNOM

By Michael Ashbaugh, MarketWatch

U.S. stocks are mixed early Thursday, but rising from a firmly lower start fueled by heightened China-U.S. trade tensions.

Against this backdrop, the Nasdaq Composite has effectively nailed trendline support, and rallied respectably, while the S&P 500 has weathered a shakier retest of the breakout point (2,802).

Link to MarketWatch's Slice.