S&P 500 whipsaws at 200-day average, Nasdaq presses the breakdown point (9,838)

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U.S. stocks are firmly higher early Monday, rising to start a holiday-shortened week.

Against this backdrop, the S&P 500 has reversed back atop its 200-day moving average, while the Nasdaq Composite is challenging its former breakout point (9,838) from underneath.

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