XLF fell 2.2% in the past five sessions and is trading 3% off highs. It has breached its 21-DMA ($52.3; +1%) and has good support at its 50-
DMA ($51.7; +0.5%). Acc/Dist Rating has turned negative, and the RS line is still in a downtrend, indicating underperformance relative to the market. Investment banks and brokers, payment processors, and money center banks are the top performing groups in the near term,
while Insurance and regional bank-related groups underperformed.
Author: shailendra bhogaraju
O’Neil Financial Sector Weekly
XLF was up 1.3% in the past five sessions and is trading near all-time highs. It is trading in the pivot range after recently breaking out of a
stage-one, 17-week consolidation base. Acc/Dist Rating and Up/Down Volume ratio have improved, but the RS line is still in a downtrend,
indicating underperformance relative to the market. Investment Banks and Brokers, Payment Processors, and Money Center Banks
are the top performing groups in the near term, with the Industry Group’s three-month RS Rating above 85.
O’Neil Financial Sector Weekly
XLF rose 0.4% last week and is trading above all key moving averages. The ETF is currently 2% off highs, with immediate support at its 21-
DMA ($52, -1%). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating improved to B- from
C+ last week. Over the past three months, Investment Banks, Specialty Services, Consumer Loans, and Super Regional Banks have
outperformed, while Insurance-Brokers and Finance-Mortgage REITs underperformed.
O’Neil Financial Sector Weekly
XLF was flat last week and continues to trade above all key moving averages. It is currently trading just 1% off highs, with immediate
support at its 21-DMA ($52; -1%). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating is
C+. Stocks in the Investment Banks, Specialty Services, Consumer Loans, and Super Regional Banks group have outperformed over the
past three months, while Insurance-Brokers and Finance-Mortgage REITs underperformed.
O’Neil Financial Sector Weekly
Sector ETF Performance – U.S.
XLF was up 0.5% last week and continues to trade above all key moving averages. It is currently trading just 1% off highs, with immediate support at its 10-DMA ($52, -1%). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating is B-. Stocks in the Finance-Invest Bnk/Bkrs and Foreign Banks group have outperformed over the past three months, while Insurance-Brokers and Finance-Mortgage REIT underperformed.
Stock Tokenization Propels HOOD to Record Highs
Attached is a report on Stock Tokens from Shailendra Bhogaraju, Senior Equity Research Analyst, William O’Neil India, and Rushit Sejpal, Equity Research Analyst, William O’Neil India.
Key points from the report:
- Robinhood launched crypto products for EU users on June 30: stock tokens, blockchain, crypto futures, and crypto staking.
- The tokenization of securities has the potential to disrupt two industry groups: brokers and private equity/asset managers.
- Refer to pages 3–8 for annotated Datagraphs®: HOOD, COIN, BLK, HLNE, SCHW, IBKR.
O’Neil Financial Sector Weekly
XLF was up 0.5% last week and reclaimed its 21-DMA ($50.7). It is currently trading 3% off highs, with immediate support at its 50-DMA
($49.6, (-2.3%)). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating has improved to Cfrom D+ in the last week. Stocks in the Foreign Banks group have outperformed over the past three months, while Super Regional Banks,
Consumer Loans Stocks, and Real Estate Developers have underperformed.
O’Neil Financial Sector Weekly
XLF declined 1% last week and breached its 21-DMA ($50.85). It is currently trading 4% off highs, with immediate support at its 100-DMA
($49.8; -1.4%). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating has declined to D+
from C+ in the last week. Stocks in the Foreign Banks group have outperformed over the past three months, while Super Regional Banks,
Consumer Loans Stocks, and Real Estate Developers underperformed.
O’Neil Financial Sector Weekly
XLF was flat last week and found support near its 21-DMA ($50.87). It is currently trading 3% off highs, with immediate support at its 100-
DMA ($49.8; -2.4%). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating has improved to
C+ from C in the last week. Stocks in the Foreign Banks industry group have been outperforming over the past three months, while Super
Regional Banks, Consumer Loans Stocks, and Real Estate Developers underperformed.
O’Neil Financial Sector Weekly
Sector ETF Performance – U.S.
XLF advanced 1.9% last week and reclaimed its 10-DMA ($50.78). It is currently trading 3% off highs with immediate support at its 100-DMA ($49.64, (-2.7%)). RS line is trending sideways, indicating in-line performance with the broader market. Acc/Dist Rating has improved to C from D+ in the last week. Foreign Banks and Insurance-related stocks have outperformed over the past three months, while Super Regional Banks, Consumer Loan Stocks, and Real Estate Developers underperformed.
