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Late Equity Roundup: Off Lows, Inside Range

US STOCKS
Stocks trading weaker, off second half lows in late trade Friday but still through first support point 4354.00 Low Feb 14.
  • Volume of Russia/Ukraine headlines has slowed in evening European hours. Keeping markets on edge with potential for accidents: Combined Russia/Belarus life fire exercises expected to continue into Saturday.
  • Reminder: US Pres Biden vid-talk w/European Leaders set for 1430ET, followed by an update on Russia/Ukraine situation at 1600ET today
  • Inside range for SPX at the moment, outlook still pointed lower with downside impetus strengthened by the failure of the contract to hold above the 50-day EMA - at 4549.15. Second support at 4263.25 Low Jan 27. Recent bearish candle patterns have exposed 4212.75 the key downside target.
  • SPX eminis trading -6.5 points (-0.15%) at 4369.25; Dow Industrials -26.36 points (-0.08%) at 34288.94; NASDAQ -74.2 points (-0.5%) at 13644.3.
  • SPX lagging sectors:
    • Energy -0.49%
    • Information Technology -0.33%
    • Industrials -0.31%

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