Correction in Financials Overdue

05/12/2009 9:57 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The Dow Jones Financial Index closed last week at the major 23.6% resistance, so Monday's correction was not surprising. We could see more sideways to downward action over the next week or two before further upside targets are challenged. Important retracement and chart support now lies at 174.

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