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Michael Ashbaugh

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April 26, 2018, 11:47 a.m. EDT

Charting a corrective bounce, S&P 500 survives third test of 200-day average

Focus: U.S. dollar presses 200-day average, China challenges major support, UUP, FXI, COST, CSX, GLNG

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly higher early Thursday, rising after a strong batch of earnings reports, and even as the U.S. dollar presses its 200-day moving average from underneath.

Against this backdrop, the S&P 500 has survived its third retest of the 200-day moving average, across as many months, and its latest corrective bounce is underway.

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