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Equities Roundup: SPX Second Breach 50-Day EMA

US STOCKS
  • US stocks are paring modest gains after breaching short-term resistance of 4025.43 (50-day EMA) recently, the second time since late Tuesday. Front month S&P futures are currently trading at 4038.0 vs. session high of 4046.75, the best level since March 9.
  • Current leading gainers are Information Technology (+0.56%) and Consumer Staples (+0.27%). Real Estate sector leading laggers at the moment (-1.8%) while bank shares are paring prior session gains but at a much more steady pace than the last couple weeks have seen.
  • More on technicals, a clear break of the 50-day EMA would strengthen a short-term bullish theme and signal scope for a climb towards 4119.50, the Mar 6 high. A failure to hold on to recent gains would refocus attention on key support at 3839.25, the Mar 13 low.

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