Financials Still Have Room to Move

04/26/2010 9:57 am EST


Thomas Aspray

, Professional Trader & Analyst

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The gains over the past eight weeks have been impressive, and many of the leading sectors, such as Industrials and Information Technology, have already overcome their 61.8% retracement resistance. In contrast, the Financial sector is still below the 38% retracement resistance at 242 with the 50% resistance at 295, which is over 30% above current levels. The 200-day moving average was tested in February before the uptrend resumed.

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