Michael Ashbaugh

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May 22, 2019, 11:51 a.m. EDT

S&P 500 sustains lift from major support, remains capped by 50-day average

Focus: Charting trade-related global market damage, FXI, EWJ, IEV, FB, PGR, CYBR

By Michael Ashbaugh, MarketWatch

U.S. stocks are slightly lower early Wednesday, pressured modestly ahead of the release of the Federal Reserve’s meeting minutes.

Against this backdrop, the S&P 500 has sustained its recent rally from major support (2,817) though it remains capped by the 50-day moving average, currently 2,873. The jagged range-bound May price action remains constructive, on balance.

Link to MarketWatch's Slice.