S&P Financial Sector Update 6/13/11

The Financial Sector is one of the strongest areas of the market in today's trading session, currently 0.46% higher on the day.

The best performing stocks in the S&P 500 Financial Sector currently are:

1) Citigroup (NYSE: C): Shares of Citigroup are currently trading up 1.9% from Friday's close to $36.63. The stock has lost 7.2% over the past ten trading sessions and is trading far below its 50-day simple moving average (one year daily chart), which is currently at $42.78 (10.7% higher than the current price).

2) First Horizon National (NYSE: FHN): Shares of First Horizon are currently trading up 1.7% from Friday's close to $9.76. The stock has lost 7.5% over the past ten trading sessions and is trading far below its 50-day simple moving average (one year daily chart), which is currently at $10.62 (7.7% higher than the current price).

3) Wells Fargo & Company (NYSE: WFC): Shares of Wells Fargo are currently trading up 1.7% from Friday's close to $26.71. The stock has lost 6.5% over the past ten trading sessions. In a bearish development, Wells Fargo's 50-day simple moving average has recently crossed below its 200-day simple moving average (one year daily chart), which is known as a “Death Cross.”

4) Genworth Financial (NYSE: GNW): Shares of Genworth Financial are currently trading up 1.5% from Friday's close to $10.28. The stock recently hit a 52-week low of $9.99 on June 10th. The year-to-date performance for Genworth has been a loss of 21.8%. Shares are trading far below their 50-day simple moving average (one year daily chart), which is currently at $11.69 (13% higher than the current price)

5) Morgan Stanley (NYSE: MS): Shares of Morgan Stanley are currently trading up 1.5% from Friday's close to $23.04. The stock has lost 6% over the past ten trading sessions. Shares recently set a 52-week low of $21.88 on June 9th.

Weakness in the sector: The following financial stocks are showing weakness despite overall sector strength:

1) Regions Financial (NYSE: RF): Shares of Regions Financial are currently trading down 2.1% from Friday's close to $6.01. In a bearish development, Regions' 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is known as a “Death Cross.” The stock has lost 15.5% over the past ten trading sessions.

2) CB Richard Ellis (NYSE: CBG): Shares of CB Richard Ellis are currently trading down 2.6% from Friday's close to $23.65. The stock is nearing its 200-day simple moving average (one year daily chart), which is currently sitting at $22.60. The stock has lost 11.9% over the past ten trading sessions.

3) Fifth Third Bancorp (NASDAQ: FITB): Shares of Fifth Third Bancorp are currently trading down 1.4% from Friday's close to $12.07. The stock has strong resistance at the $12.30 level.

4) E*Trade Financial (NASDAQ: ETFC): Shares of E*Trade Financial are currently trading down 1.2% from Friday's close to $13.48. In a bearish development, E*Trade's 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is known as a “Death Cross.” The stock has lost 14.8% over the past ten trading sessions.

5) Ameriprise Financial (NYSE: AMP): Shares of Ameriprise Financial are currently trading down 0.9% from Friday's close to $55.51. The stock crossed below its 200-day simple moving average (one year daily chart) in today's trading session. Shares have lost 9.4% over the past ten trading sessions.