S&P 500 pulls rabbit from hat, rallies after barely holding major support (2,742)

By Michael Ashbaugh

U.S. stocks are firmly higher early Monday, shrugging off a sluggish session start amid constructive technical price action.

Consider that the S&P 500 has maintained major support (2,742) — by the skin of its teeth — rising sharply from last week’s close (2,743) matching the inflection point.

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