Symbol: LECO

The U.S. market remains in a Confirmed Uptrend. The S&P 500 reversed off 50-DMA resistance ( 4,611 ), closing near session lows and adding its first distribution day. Support remains the 200-DMA ( 4,451 ). The Nasdaq reversed off last week’s highs, also closing near lows and adding its second distribution day since the January 31 follow-through. Both indices have been trading in a choppy range over the last week, unable to progress above key moving average resistance.