Michael Ashbaugh

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Feb. 12, 2021, 12:01 p.m. EST

Charting a bull flag, S&P 500 asserts the range near record highs

Focus: Semiconductor sector takes flight amid Intel’s improving technical backdrop, SMH, INTC, KLAC, PINS, CALX

By Michael Ashbaugh, MarketWatch

U.S. stocks are mixed early Friday, largely treading water ahead of a three-day weekend.

Against this backdrop, each big three U.S. benchmark has asserted a flag pattern, an orderly four-session range near record highs. Range-bound price action is bullish against the prevailing backdrop.

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