Michael Ashbaugh

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Jan. 29, 2021, 12:12 p.m. EST

Charting a corrective bounce: S&P 500 stalls at the breakdown point

Focus: Semiconductor sector tests key trendline, Microsoft sustains earnings-fueled breakout, SMH, MSFT, COF, APTV, NTAP

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly lower early Friday, pressured to conclude previously constructive January price action.

Against this backdrop, each big three benchmark has pulled in to this week’s second test of notable support. The response to each area, and Friday’s monthly close, will likely add color.

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