The Financials Are Your Tell

With all the cross currents, tax increase talk, and financial cliff BS, it’s easy to be jumpy with the market here. The one thing I go back to is the health of the financials. As long as they hold up here, I will continue to hold my bets to the long side. Here a look at a 30 min chart:

The minute the financals start to breakdown is where I get concerned. The 50 day is just beneath us @ 15.76. On watch here.