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Will Financials Continue to Drag Down the Markets? Print Next Article
Thursday, June 18, 2009
By dodjit.com
Tags : Financials , Stocks , xlf , markets

Will Financials Continue to Drag Down the Markets?

Even though the major indices are holding onto their gains, financials are still stumbling on their way higher, getting stuck at criticial levels. After climbing higher the financial sector (xlf) failed to break its 200 day moving average only to drop to its 50 day moving average.

While optimism still lies out there, the financial sector will need to rebound in order to back the rally. A further drop in financials could drag down the major indices.

Tip- Keep a close eye on financials

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