Yesterday at a glance: SPDR S&P 500 ETF Trust slid down from $371.13 to $368.5, taking a $2.63 loss (0.71%)
United States Philadelphia Fed Manufacturing Index (Oct) is next today at 12:30 UTC.
Following a previous reading of 9.88 million, Crude Oil Inventories in United States released yesterday at 14:30 UTC fell short of the 1.38 million figure expected by analysts with an actual reading of -1.73 million.
While price action maintains a negative bias, United States Building Permits (Sep) released yesterday at 12:30 UTC with a figure of 1.56 million, while the previous figure was 1.54 million. United States 20-Year Bond Auction came out at 4.395.
SPDR S&P 500 ETF Trust made an initial break below its 21 day Simple Moving Average at $367.4, a possible indication of a forthcoming negative trend. On the other hand, note that SPDR S&P 500 ETF Trust could begin to recover as it approaches significant support, now $3.08 away from $365.42. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting SPDR S&P 500 ETF Trust to extend its recent losses.
In the meantime, negative performances are also seen in other markets, Vanguard Mortgage-Backed Securities Index Fund ETF Shares lost 1.1% yesterday and closed at $44.38.
Other assets are showing positive performances as Netflix is trading around $272.38 after ending yesterday’s session at $240.86 (up 13.09% today).
In addition, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% yesterday and closed at $25.36.
Looking ahead, ongoing depreciation may be prolonged as United States Initial Jobless Claims projected to decline to 230,000 while previous data was 228,000; data will be released today at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Oct) is expected today at 12:30 UTC. United States Existing Home Sales (Sep) will be released today at 14:00 UTC.
Having set a significant high of $477.71 8 days ago, SPDR S&P 500 ETF Trust is trading 4.09% lower.