Financials and Technology Back to Resistance

09/14/2010 10:12 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

Click to Enlarge

Impressive action in the stock market on Monday with strong market internals pushing the Advance/Decline (A/D) line sharply higher. The financial and technology sectors showed nice gains as their ETFs were up 2.13% and 1.79%, respectively. The Financial Select Spyder (XLF) closed just barely above its 200-day moving average (MA) but still has key resistance in the $15.10 area. Volume in the Technology Select Spyder (XLK) picked up, but it is still below its 200-day MA. A decisive close above $22.70 is needed to complete the trading range.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on ETFS