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Financials in focus as Global markets face resistance

Barely any real market aftershock from yesterday's terror incident, and if history is any guide, the impact typically proves short-lived.  STOXX 600 has rebounded from down 0.6% to just down 0.2% and still set to finish the week up nearly 3%. Emerging mkts have extended their weekly advance to 4.7% the most in 4 months.  Overnight optimism on China data- Eco growth 6.7% vs 6.6 coincided with a jump in S&P futures, which now lie near unchanged after testing 2151 last night.  Most of this week's real volatility has been centered on the currency markets as the Yen experienced its largest weekly drop since 1999 while Pound Sterling had its largest weekly RALLY in seven years.  Overall this past couple weeks have helped Global equities recuperate the losses into late June and as of yesterday the Value of Global equities stood at 64.5 trillion, or the highest of the year.  For today, Financial earnings have continued in full swing after yesterday's JPM beat, and Citigroup, PNC, USB and WFC all look to have beat Bottom line estimates.  Financials were a group we highlighted yesterday after outperforming nearly all other 9 S&P sectors for the week while bouncing near key support relative to SPX-  Yet XLF looks to now face some headwinds with resistance from last Summer coming in near 23.80-  OVERALL for today into next week, I expect upside to prove limited and indices to begin at least a mild 3-5 day correction to alleviate some of the recent overbought conditions-  Key technically would seem to be Wednesday's lows of 2139 which if broken, should allow for pullbacks down toat least near 2100-  For today, upside resistance to sell lies near 2168-70-  and would use early strength today to lighten up on longs, or consider hedges-  Premkt movers: HLF, RAD, ALR, RARE, while on the downside- CYTR, ZIOP, FMSA, PPHM, RRD, FOSL, CMG-  let me know if you have questions.  Thanks

XLF will be in key focus with financial earnings. yesterday , despite the outperformance, we saw a fairly big reversal from key resistance.  so this area from 23.80-24 will need to be overcome to have real faith