Nasdaq reaches firmer technical ground S&P 500 nails the breakdown point

Technically speaking, the U.S. benchmarks’ bigger-picture backdrop has strengthened this week.

On a headline basis, the Nasdaq Composite has knifed atop major resistance, reaching firmer technical ground atop the 50-day moving average. Meanwhile, the S&P 500 has concurrently edged atop its breakdown point (2,695) though the retest remains underway.

Before detailing the U.S. markets’ wider view, the S&P 500’s

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