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Finacial Sector: 3 Charts Suggest Prices Are Headed Lower

Casey Murphy

Unsurprising to most, the financial sector has acted as the backbone of the uptrend that has dominated the financial markets over the past couple of years. This year has not really been kind to the financial sector, which has seemed to have to battle with overhead resistance on each attempted move higher. Taking a look at the chart of the Financial Select Sector SPDR Fund, you can see that the dotted trendline has acted as a consistent guide for the bears in determining placement.