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Monday, the stock market stumbled, breaking a four-day winning streak at the first shallow resistance zone bounded by S&P 500 742 to 780. Yesterday's high for the index was 774.53.
It is clear that the reversal for the S&P resulted from afternoon profit-taking, so the index could spring back as early as today.
More ominous, however, was the Nasdaq's tape action.
Continue reading Today's technical outlook: Traders should stand aside
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