ETFs Reach 50-Day MAs

03/20/2009 9:38 am EST


Thomas Aspray

, Professional Trader & Analyst


The rally in stocks has been fueled in part by the sharp gains in the financials as the Financial Spyder (XLF) has rallied about 50% from its lows a week ago and closed above its 50-day MA on Wednesday. The Energy Spyder (XLE) closed above its 50-day MA on Thursday, but both continue to show massive overhead resistance.

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