Financial Sector Moves Lower (XLF)

Financial stocks moved lower today as Bank of America (BAC), Citigroup (C), and Goldman Sachs (GS) all declined today. The financial sector as a whole was lower on tepid volume. On CNBC's Halftime Report traders blamed profit taking for the decline in the sector. Pete Najarian believes that investors are lightening their positions in anticipation of a pullback in the financial sector. Todd Gordon of Forex.com feels that Goldman Sachs has run into resistance at $178 and that Goldman is trending lower. Patty Edwards of Storehouse Partners is bullish on Goldman Sachs (GS) over the long term. Investment bank Goldman Sachs (GS) fell 1.5% to $171.38. Citigroup (C) was the worst performer of the day finishing down 2% to $4.09. The nation's largest bank, Bank of America (BAC) was down 1.5% to close at $17.76.