Beaten Down Financials Outperforming (AIG, HIG, XLF)

While the overall market has faltered throughout the trading session and come off its highs, the financial sector has managed to retain most of those gains and are outperforming today.

Notably, Hartford Financial Services Group Inc. (NYSE: HIG), which has slid lower for that past six months, is higher on the session by 2.73%, trading at $22.21. The stock is now hovering around the 50-day moving average. A solid close above that key level could signal that the stock has further room to run.

American International Group Inc. (NYSE: AIG) is also booking impressive gains, currently higher by 2.53%, trading at $36.47. The stock has been consolidating sideways for the better part of seven months. The stock has support at $32.50, but finds resistance near $40.00.

Even the financial sector as a whole is outperforming; the Financial Select Sector SPDR Fund (NYSE: XLF) is currently trading higher by 1.30%, trading at $14.37, while the SPDR Trust (NYSE: SPY) is only higher by 0.84%, trading at $110.56.

This is a healthy sign as the overall market cannot continue its upward trend without this key sector.

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