SPDR KBW Bank ETF (KBE*US)

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Second half outlook: Insiders cautiously bullish towards Canadian stocks

As we make our way through the second half of the year, insiders remain cautiously bullish on the Canadian market. This can be seen by looking at trends with our INK Canadian Insider (CIN) Index rebalancing process.

Sound bites: US banking insider sentiment crumbles ahead of key Yellen speech

There are more warning signs for a US market that spent has spent the summer hitting new all-time highs. Over the past few weeks we have been watching broad insider sentiment sink as stocks have moved higher. Banking insiders were the one group that offered some comfort to the bulls with our Banking Indicator remaining above the 100% mark, meaning there were more stocks in the group with key insider buying than there were with selling. However, in advance of Janet Yellen's Friday speech at the Kansas City Federal Reserve's end-of-summer symposium at Jackson Hole, the banking insider comfort zone is crumbling.

Sound bite: A bucket of cold water to start the summer for Financials

Highlights from the June 1st US Market INK Report

Our US Banks Indicator remains positive, sitting above the 100% level (at which point there are the same number of stocks with key insider buying as there are with selling). Nevertheless, after a nice rally over the past few weeks, the bottoming of our US Banks Indicator suggests that much of the rally in the group may be over for now. A bottom in an indicator often coincides with a top in associated share prices. The counter argument could be made on traditional technical measures. From a technical chart perspective, new highs in the banks do look possible, particularly with the SPDR KBW Bank ETF (KBE*US) trading above its 20, 50 and 200 day moving averages. It also put in a new 3-month high earlier this week.

Insiders continue to favour a reflating global economy

As we expected, we have seen a modest bounce in the Utilities SPDR ETF (XLU*US) which has advanced about 0.7% since our report last week. Concerns about Greece and slowing industrial production helped the long-bond sensitive group to move off its recent lows. As has often been the case throughout the economic recovery, the data has provided investors with a mixed picture. Industrial production numbers disappointed on Monday, but retail sales generally came in better than expected last Thursday. 

The persistence of some data that surprises on the downside will likely encourage the Federal Reserve to take a go-slow approach on interest rate increases.

Subscribe to RSS - SPDR KBW Bank ETF (KBE*US)