Financial Sector Bounced Nicely So Far

After the close on Friday, we pointed out that the S&P 500 Financial sector was sitting at a key inflection point that could shape the direction of the sector in the months ahead.  The sector's action so far this morning favors the bulls, as it has bounced nicely off of the bottom of its uptrend channel.  If the Financials can hold onto gains into the close, technicians will expect a rally back to the top of the sector's trading channel.