Charting a range-bound backdrop, S&P 500 weathers May trade-fueled volatility

Published: May 21, 2019 11:54 a.m. ET

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Focus: Crude oil maintains major support, Semiconductors pressured amid trade tensions, USO, SMH, XLP, WDAY, AXP, CPA

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Technically speaking, the major U.S. benchmarks continue to whipsaw amid increased, and largely trade-fueled, May market volatility.

Amid the cross currents, the bigger-picture technical damage has thus far been largely contained, with each big three U.S. benchmark maintaining major support.

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

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Michael Ashbaugh writes technical analysis for MarketWatch and is editor of MarketWatch's "The Technical Indicator" newsletter.