We have updated our monthly publication - US Sectors Relative to S&P500.
It is an overview of the major US sectors, and covers, amongst others, Consumer Discretionary, Consumer Staples, Energy, Healthcare, Technology and Financials.
Within several ratings changes, we have Downgraded Financials to Underweight.
On an absolute basis, the US Financials ETF XLF is showing signs of exhaustion. Prices are correcting back from the March highs at 25.30, with focus now on the 22.55/57 break level from November/December. Falling momentum studies suggest risk of a break beneath here, with subsequent focus then turning to the 20.00 break level.
Relative to the US S&P500 Index, price action is also looking vulnerable.
In the coming months, we see further Underperformance as institutional investors reduce exposure.
Individual names which are currently under pressure include Bank of America Corp (BAC), Citigroup Inc (C), Goldman Sachs Group (GS), JP Morgan & Chase Co (JPM), Morgan Stanley (MS) and Wells Fargo (WFC).
However, several names are managing to hold on to their relative strength. Investors who are maintaining a Financials portfolio are currently seeing safety in for example, American Express Co (AXP), BlackRock (BLK), Berkshire Hathaway (BRK), Moody's Corp (MCO) and Prudential Financial (PRU).
It is an overview of the major US sectors, and covers, amongst others, Consumer Discretionary, Consumer Staples, Energy, Healthcare, Technology and Financials.
Within several ratings changes, we have Downgraded Financials to Underweight.
On an absolute basis, the US Financials ETF XLF is showing signs of exhaustion. Prices are correcting back from the March highs at 25.30, with focus now on the 22.55/57 break level from November/December. Falling momentum studies suggest risk of a break beneath here, with subsequent focus then turning to the 20.00 break level.
Relative to the US S&P500 Index, price action is also looking vulnerable.
In the coming months, we see further Underperformance as institutional investors reduce exposure.
Individual names which are currently under pressure include Bank of America Corp (BAC), Citigroup Inc (C), Goldman Sachs Group (GS), JP Morgan & Chase Co (JPM), Morgan Stanley (MS) and Wells Fargo (WFC).
However, several names are managing to hold on to their relative strength. Investors who are maintaining a Financials portfolio are currently seeing safety in for example, American Express Co (AXP), BlackRock (BLK), Berkshire Hathaway (BRK), Moody's Corp (MCO) and Prudential Financial (PRU).
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.