Financials Lag, Industrials Strong
07/27/2010 9:45 am EST
Stocks have continued to move higher as the NYSE A/D line is very close to the April highs. This is a positive sign, but the financial sector continues to lag as Financial Select Spyder ETF (XLF) is still below resistance at $14.90-$15.05. The Industrials have been stronger as the Industrial Select Spyder ETF (XLI) closed strong and just below resistance at $30.60. The next band of resistance is in the $31.60-$32.40 area. It is interesting to note that the small- and mid-caps are starting to act stronger.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.