Energy Now Sports The Highest SCTR Among Sectors

Market Recap for Friday, April 13, 2018

U.S. stocks fell on Friday the 13th, but managed to cut intraday losses in half (or more) during the final 45 minutes of the session.  Most of our major indices lost roughly 0.50%, except for the benchmark S&P 500, which fell a more palatable 0.29%.  Six of nine sectors lost ground, including a very weak financials sector (XLF, -1.51%) after several large banks reported mostly excellent quarterly earnings results.  Banks ($DJUSBK, -2.44%) jumped higher at the open as key banking leaders like JP Morgan Chase (JPM, -2.71%) and Citigroup (C, -1.55%) beat Wall Street EPS estimates.  I'm still a fan of banks as they should do well in a rising interest rate environment, but they now have massive overhead resistance as follows:

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