BUZZ-U.S. Financials: Pressure mounts amid post-FOMC disappointment

** Since peaking in early Sept, Financial Select Sector SPDR Fund eroding back to its early Aug breakout point. Should then snap higher, else threaten failed advance, refocus on major support

** Financials, only S&P 500 sector in the red since day before Fed's Sep (Shanghai: 600021.SS - news) 21 inaction; off 1.3 pct

** Meanwhile, broken out REITs best performer, 3.5 pct gain

** Financials also buffeted by Wells Fargo (Hanover: NWT.HA - news) 12 pct Sept slide, and Deutsche Bank (LSE: 0H7D.L - news) 's new lows

** XLF has support in the $18.94/$81.61 area including its 200-DMA; from here, ETF needs to stabilize, resume advance. Chart: http://tmsnrt.rs/2d0XslW

** Falling under 200-DMA can confirm failed push, put focus back on $17.31 post-Brexit low, as well as major support line from 2009 (now $16.75)

** On a rally, taking out $20.01 can see XLF challenge key resistance at summer 2015 peak, and 61.8 pct Fibo retracement of 2007/2009 bear market ($20.81/$20.97)

** Despite XLF's pullback, spread vs iShares European Financials ETF still within rising channel from early 2014; can see eventual widening toward $5.00

** Largest XLF holdings by pct TNA end-Aug include: Berkshire Hathaway (Sao Paolo: BERK34.SA - news) , JPMorgan Chase (Swiss: JPM-USD.SW - news) and Wells Fargo

** HSBC Holdings (Frankfurt: 923893 - news) , Banco Santander (Amsterdam: 817651.AS - news) , and Allianz SE (LSE: 0M6S.L - news) among top EUFN holdings