Michael Ashbaugh

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Jan. 28, 2021, 12:31 p.m. EST

Charting a market whipsaw: Nasdaq, Dow industrials hold key support

Focus: Charting U.S. sector damage (and lack thereof), 10-year yield nails gap support, Gold presses 200-day average, QQQ, XLF, IYT, TNX, GLD, XRT

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly higher early Thursday, rising after a solid batch of economic data to punctuate the worst single-day downdraft in about three months.

Against this backdrop, the Nasdaq Composite has maintained its breakout point (13,220) while the Dow Jones Industrial Average has rallied from a surprisingly swift test of its 50-day moving average.

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