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HU3 - Huntington Bancshares Inc News Story

€7.4 0.0  0.0%

Last Trade - 25/09/20

Large Cap
Market Cap £7.04bn
Enterprise Value £15.13bn
Revenue £3.67bn
Position in Universe 120th / 1041

BUZZ-U.S. Financials ETF: Deteriorating momentum may tell

Wed 21st March, 2018 3:42pm
** Financial Select Sector SPDR Fund XLF.P recovered off its early Feb trough, but failed to make new high*:nL2N1PQ7R1 ** With momentum waning, risk on the charts tilts toward downside resolution of its past month's choppy range ** This as the market awaits results of first FOMC policy meeting with Jerome Powell at helm*:nL1N1R11B6 ** Indeed, Fed expected to raise rates and may signal more hikes coming in response to tax cuts and government spending ** This as 5-30 U.S. Treasury Yield Spread US5US30=TWEB remains in down trend, flirting with fresh lows back to Aug 2007 ** Financial Sector .SPSY slightly outperforming broader S&P 500 .SPX YTD, up 2.8 pct vs 1.7 pct ** However, as banks .SPXBK , tech .SPLRCT face-off on the charts*:nL1N1QW1E4, fins have been lagging; tech leading SPX sector YTD with 7.9 pct gain, growth still holds upper hand over value*:nL1N1QV0VQ*:nL1N1R10VI ** XLF did retrace 86 pct of its Jan/Feb slide into $29.81 Mar 12 high. Chart: ** However, ETF failed to hold gains, currently trapped between its 200-DMA, support ($28.13) and its 50-DMA, resistance ($29.03)*:nL3N1R345F ** Momentum oscillator diverged into mid-Mar high, deteriorating further; suggests ETF has weak stance ** XLF close below 200-DMA can suggest potential for fall below Feb trough ($26.76); Nov 2017 low ($25.86)*:nL1N1R1144*:nL1N1R20FG ** Reclaiming 50-DMA on close, can instead refocus XLF on $29.81 then $30.325 high; 2007 all-time high ($30.98) ** XLF top holdings by pct weight end-Feb include: JPMorgan Chase JPM.N , Berkshire Hathaway BRKb.N and Bank of America BAC.N <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ XLF 0321 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> ((RM: ( 646-223-4122))
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