XLF at First Support
04/21/2009 12:49 pm EST
The selling Monday was heaviest in the financials and the Financial Select Spyder (XLF) reached first support just below $10. The 50-day MA and more important retracement support is in the $8.50 area. A daily close below $8.00 would be negative. The declining 200-day MA is at $14.20.