Stock Sectors Approach Key Support
08/26/2010 10:07 am EST
The slide in the stock market since early August has taken some of the key sectors below short-term support, which makes the long-term support levels more important. The Financial Sector dropped though year-long support in the 180 area on Wednesday (August 25) before reversing to close the day higher. There is next minor support at 175. The Industrial Sector is holding up better as it is still above the strong chart support in the 232 area. The first resistance to watch is at 250-255. We'll have more on all ten key stock market sectors in today's edition of Trading Lessons.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.