BUZZ-U.S. Financials: Tide turning

** Financial Select Sector SPDR Fund has positive momentum turn

** Financials still worst performing sector since S&P 500 Mar 1 closing high, with 5.9 pct loss

** But group top sector Mon, up 2.2 pct, amid relief rally in European bank shares/global risk-on move

** Like DJI , XLF had risk for deeper, more protracted, sell off from early Mar high to complete 4th wave correction from early-2016 trough. Chart: http://reut.rs/2oZ7ZBd

** However, XLF's 9.5 pct decline over 31 trading days to $22.89 Apr 17 low now appears to have been end to its correction

** Daily MACD sees bullish cross; looks to challenge study zero-line/resistance line from Dec (Shanghai: 600875.SS - news) high as advance accelerates

** XLF taking out Mar 30 high ($23.99)/resistance line from high (now $24.10) can confirm, re-target $25.295/$25.37

** Potential will be for Fibo projs in $26.33/$28.46 area, though risks will build as like DJI, ETF heads toward 5th wave conclusion

** Meanwhile, spread vs iShares MSCI Europe Financials ETF (now $2.45) falling to lowest level since U.S. presidential election

** Spread can turn back up from 3-year support line (now $2.10), but break can suggest parity and below as U.S. financials then see further underperformance