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In focus: Bulls trying to establish a foothold

By Lawrence G. McMillan

The S&P 500 Index is trying to reverse its downtrend, and appears that it has at least partially done so.

The downtrending 20-day moving average of SPX SPX +0.73%  is at about 1297, and the highs of last week were at 1298.  So a close above that level would change the SPX chart from bearish to neutral.  A close above 1310 would turn it bullish.

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