ETF Outlook for Friday, March 21, 2014
SPDR Financial ETF (NYSE: XLF)
Late yesterday the results for the annual stress test for big U.S. banks were released and 29 out of 30 have enough capital to weather a severe jolt from the economy. The only bank to fail was Zions Bancorp (NYSE: ZION).
Some of the big name banks were at the bottom of the list, however they all passed. XLF is a basket of some of the largest names in the sector and yesterday it closed up 1.6 percent at the best closing level since 2008. The volume Thursday on the breakout rally was the highest in six weeks, which is a bullish signal for the chart. Support for XLF is at the $21.75 area.
iShares U.S. Consumer Goods ETF (NYSE: IYK)
After the bell yesterday Nike (NYSE: NKE) reported better than anticipated earnings ...
