Charting another bullish reversal: S&P 500 and Nasdaq rally from key support

U.S. stocks are firmly higher early Monday, rising amid renewed vaccine optimism as well as merger and acquisition activity.

Against this backdrop, the S&P 500 and Nasdaq Composite are concurrently rising from major support closely matching the 50-day moving average. The tandem successful retests preserve a bullish intermediate-term bias.

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