by Bespoke Investment Group
The overall market is relatively flat today, but the S&P 500 Financial sector is down once again, putting it down 3.50% year to date. A sector or stock is generally thought to be in a long-term uptrend when it is trading above its 200-day moving average and a long-term downtrend when it is below its 200-day moving average. As shown in the chart below, the Financial sector has just broken below its 200-day moving average today.
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