Don't Ignore This Chart

Finance Sector is the Big Drag

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The advance since the March lows has been enough to power the Consumer Discretionary SPDR (XLY) past its 2007 high. The Industrials SPDR (XLI) and the Technology ETF (XLK) both met resistance at their 2007 highs over the last few months. The Finance SPDR (XLF) remains the big laggard as it trades some 35% below its 2007 highs. This key sector has been a major drag on the S&P 500 since early 2010.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London. Learn More
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