. Hitting that would mean the benchmark index will have recouped half the losses logged since the drop from its January high.
To trigger the signal the S&P 500 has to close above 4,231, Jonathan Krinsky, chief market technician at BTIG, said in a note. Stocks’ big advance in recent weeks, particularly for beaten down technology and other growth names, has lifted the Nasdaq Composite more than 20% above its recent low, raising hopes for a brief bear market.
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