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Michael Ashbaugh

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March 16, 2021, 12:28 p.m. EDT

Charting rotational breakouts, S&P 500 rallies to record highs

Focus: Transports digest March breakout, McDonald’s stages trendline breakout, IYT, MCD, VIRT, CROX, SAVE

By Michael Ashbaugh, MarketWatch

Broadly speaking, the major U.S. benchmarks are acting well technically, though the March price action remains uneven.

Amid the cross currents, the S&P 500 and Dow industrials have staged tandem breakouts — tagging all-time highs — while the Nasdaq Composite has sustained a break to firmer technical ground, though it remains far from record territory.

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