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April 2, 2018, 11:53 a.m. EDT

Charting a tenuous technical backdrop, S&P 500 back for third crack at 200-day average

Focus: Netflix presses major support, Japan challenges key trendline, NFLX, EWJ, GES, CLR, CVLT

By Michael Ashbaugh, MarketWatch

U.S. stocks are firmly lower early Monday against an increasingly tenuous bigger-picture technical backdrop.

In the process, the S&P 500 is back for a third crack at the 200-day moving average, currently 2,590, positioning it precariously to start the second quarter. An eventual violation likely opens the path to the S&P’s downside projected target, circa 2,530.

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