The initial enthusiasm for the Cyprus banking crisis resolution faded once traders were told that it would become the blueprint for how the Europeans would deal with similar crises in the future. That put an immediate damper on "risk-on" trading, with the Financial sector hit hard. It has been the leader for the rally off last November's lows. At the current level of 1548.61, next support is at 1545.80, a recent pivot low. Resistance is at 1552.10.
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