Last week was horrible for financial stocks as the XLF tumbled 2.86%. Investment services ($DJUSSB) and asset managers ($DJUSAG) were at the bottom of the heap with losses of 6.00% and 3.94%, respectively. The losses were technically damaging for both industry groups as both now appear to be rolling over and staring at further potential losses ahead. The DJUSAG recently hit price resistance, could not break through and closed at four week lows. The approximate trading range for the group is 145-155. A close below 145 would likely signal a retest of February lows near 130.