Financial Select Sector rolls over, levels to watch

theflyonthewall.com

The FInancial Sectors stocks have been the primary leadership of the rally in the S&P 500 off the lows of last November. Today, using the etf as a proxy for the sector, there has been a break of uptrend support. This could be the start of the long-speculated-upon dip that traders have been expecting for many weeks. What happens to the sector is extremely important to the broader index. At the current price of $18.13, resistance is at the 10-day, last at $18.26. Support is at $17.94, a prior pivot high, and then at $17.74, another prior pivot high.

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