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By: Paul_RejczakStocks extended their short-term consolidation on Friday, as investors continued to hesitate following Tuesday-Wednesday move down. The broad stock market failed to continue its rebound from February 9 low last week despite technology stocks reaching new record highs. There are still two possible future scenarios. Or maybe three, but the third one is the worst.
The U.S. stock market indexes were mixed between 0.0% and +0.3% on Friday, extending their short-term consolidation, as investors were undecided after recent move down. The S&P 500 index gained 0.2% and it remained at the support level of previous Friday's daily gap up. It currently trades 4.5% below January 26 record high of 2,872.87. The Dow Jones Industrial Average was relatively stronger than the broad stock market, as it gained 0.3%, and the technology Nasdaq Composite was unchanged.

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