Financials Bounce

07/28/2009 10:07 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart
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Despite the slightly higher close on Monday by the major averages, the financials were relatively stronger with both the banks (KBE) and the overall financial sector (XLF) making nice gains. The charts show major resistance overhead at $21-$22 for KBE and $13-$13.65 for XLF. An upside breakout should be positive for the market.

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