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SPX Nearing Key Resistance, Strong Recovery Extends

US STOCKS
  • Stocks extending modest session highs after paring support in morning trade. DJIA are up 130.27 points (0.38%) at 34229.86; S&P E-Mini Future up 11.5 points (0.27%) at 4200.25; Nasdaq up 12 points (0.1%) at 12238.29.
  • SPX futures drifting near key resistance of 4198.25 High Apr 18, clearance of this level would confirm a resumption of the uptrend that started Mar 13 and open 4244.00, the Feb 2 high.
  • On the downside, key short-term support has been defined at 4068.75, the Apr 26 low. A break would be bearish.
  • Quarterly earnings cycle resumes after the close, salient stocks include: Stryker Corp, Community Health Systems, Invitation Homes Inc, Vornado Realty Trust, Transocean Ltd, ZoomInfo Technologies Inc, Arista Networks Inc, Avis Budget , Group Inc, SBA Communications Corp, MGM Resorts International, Credit Acceptance Corp and Diamondback Energy Inc.

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