S&P Right At Support (SPX, BAC, C, JCG, ANF)

The S&P 500 (SPX) is currently holding support just above the early week low of 1,070. The S&P is down 24.50 points, or 2.23%, to 1,071 today. Today's selloff has been broad-based with financials and consumer discretionary names leading the way down. Financials are taking a hit after Bank of America BAC and Citigroup C posted solid quarterly results, but warned that revenue growth going forward will be weak given the lackluster economy. A weak consumer sentiment reading helped add to market weakness this morning. Consumer sentiment dropped by 9.5 points in July, plunging to a fresh 11-month low. Shares of J. Crew JCG are down 6.75% while Abercrombie & Fitch ANF is down 4.1%.