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Lawrence G. McMillan

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Feb. 25, 2021, 11:30 a.m. EST

Stock-market bears have failed again — what to watch for next

Also, a conditional trade for the S&P 500

By Lawrence G. McMillan, MarketWatch


AFP/Getty Images

After moving sideways for nearly two weeks, the stock market finally broke down on Feb. 23. The initial decline was very strong and took the S&P 500 index down to almost 3800 – violating the support at 3870 (the highs of January). But the bears once again failed to seize control, and buyers stepped at that level. By the end of the day, the S&P was in positive territory.

Over the next two days, the bulls have taken prices over 120 points higher, and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% is once again back in that 3900-3950 trading range.

/zigman2/quotes/210599714/realtime
US : S&P US
4,185.47
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p
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