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Analisis Tecnico de XLF (ETF Sector Financiero del SP 500 1X). al 08 Nov 11.
*En Resistencia de mediano plazo(meses).
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* March 11, 2010, 9:08 AM EST
Financial ETF eyes October highs

The rally in the Financial Select Sector SPDR Fund (XLF) vividly illustrates investors’ renewed love affair with beaten-down bank stocks.

Traders have also been driving up shares of bailed-out financial firms such as American International Group (AIG), Fannie Mae (FNM) and Freddie Mac (FRE).

XLF has risen for nine straight days through Wednesday. It has posted a gain in 19 of the last 21 trading sessions. However, trading volume in the ETF has trailed off somewhat over the past week or so.

The financial ETF is up 7.4% so far in 2010. On Wednesday it touched a high of $15.56 a share and closed at $15.47. Traders will be watching to see if XLF can break through its 52-week high of $15.76, which it set in October 2009.

Berkshire Hathaway recently joined XLF by virtue of its inclusion in the S&P 500. XLF tracks the financial-services component of the S&P 500, and its other top holdings are J.P. Morgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS) and Citigroup (C).

Citi shares have been the high flier with a year-to-date gain of about 20%, and volume has ramped up the past two days. Strong demand for an issue of Citi trust preferred securities shows banks can raise capital, analysts say. Citi’s CEO, Vikram Pandit, on Thursday will raise the prospect of the bank posting profit as much as $20 billion from its core business within a few years, the Financial Times reported.

The SPDR KBW Bank ETF (KBE) has benefited even more from the rally in Citi and B. of A. shares, its top two holdings. With a YTD gain of nearly 18%, KBE is one of the best-performing ETFs in recent months. Earlier this week, KBE set a fresh 52-week high. On Wednesday, it touched $25.16 a share. Its next hurdle is $25.44, which it last traded in November 2008.

The Wall Street Journal Online

Financial, Tech ETFs Get Earnings Boost
By Michael Johnston

Michael Johnston is senior analyst for ETF Database. Many analysts are building up the coming weeks as one of the most important earnings seasons in recent memory, a report card on the strength and sustainability of the economic recovery in the U.S. So far, the grades have been stellar.

Intel(INTC Quote) revenue and profits declined from a year ago, but the chipmaker managed to beat Wall Street's expectations, indicating that the battered chip industry may be on the brink of a comeback.

In the financial sector, JPMorgan Chase(JPM Quote) reported much better-than-expected results on the back of strength in its investment banking unit. Despite continued loan losses, JPMorgan saw "broad-based growth" in several of its businesses, according to chairman and CEO Jamie Dimon. The upbeat results gave hope to investors expecting most major financial institutions to post earnings declines

While Intel and JPMorgan represent only small portions of most technology and financial ETFs, their good news should send most sector-based funds higher on Wednesday, as the upside surprise from these firms is deemed not to be company-specific, but rather due to an improving economic environment and more favorable business climate.

JPMorgan's stellar results are good news for broad-based financials ETFs, including the iShares Dow Jones U.S. Financial Services Index Fund(IYG), Vanguard Financials(VFH) ETF, and Financial Select Sector SPDR Fund (XLF).

These funds are dominated by holdings in mega-banks like JPMorgan, Bank of America(BAC Quote), Wells Fargo(WFC Quote), Goldman Sachs (GS Quote) and Citigroup(C Quote), many of which are scheduled to issue earnings reports in coming weeks.

Intel's unexpected results have had a more wide-reaching impact. In addition to boosting U.S. technology funds such as Technology Select Sector SPDR(XLK) and the iShares Dow Jones U.S. Technology Sector Index Fund(IYW) ETF (as well as more targeted tech ETFs like the PowerShares Dynamic Semiconductors Portfolio(PSI), expectations for a recovering tech sector gave a boost to tech-heavy Asian economies, including Australia and South Korea.

www.thestreet.com

The investment includes companies from the following industries: banks, diversified financials, insurance and real estate. The fund will normally invest at least 95% of its total assets in common stocks that comprise the relevant Select Sector Index. This fund has adopted a policy that requires it to provide shareholders with at least 60 days notice prior to any significant material change in its policy or its underlying index. It is nondiversified.