Once again, it is the finance sector feeling the heat from across the pond. This screenshot from the market summary page shows the nine sectors, and all are in the red. In afternoon trading on Thursday, XLF is the only one with a loss greater than 3%. Obviously, the banks have a lot riding on a successful outcome in Europe.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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 market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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