A mostly flat day so far for Consumer Staples Select Sector SPDR Fund, ranging between $75.96 and $76.38; currently at $76.16.
Consumer Staples Select Sector SPDR Fund made an initial breakout above its 3 day Simple Moving Average at $76.22, a potential indicator of a newly emerging bullish phase. Consumer Staples Select Sector SPDR Fund is approaching key support, around 36 cents away from $75.8. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. In contrast, Consumer Staples Select Sector SPDR Fund's upper Bollinger Band® is at $76.93, suggesting that a downward move may follow.
With market volatility ebbing, the current technical outlook indicates Consumer Staples Select Sector SPDR Fund will break higher above its recent ranges in the immediate future.
At the same time, mixed performances are seen elsewhere as Medtronic is down to $76.14, losing $3, after closing at $79.12 in the preceding trading session. Anheuser-Busch is up 2.92%. After ending Friday's session at $39.02, Verizon lost 78.46 cents and is trading around $38.24.
Moreover, as things stand, upcoming United States Consumer Confidence data is projected to fall short of market expectations with newly published data of 100, following on from the preceding figure of 102.5. New data is set to be published tomorrow at 15:00 UTC.
Having set a significant high of $80.57 a month ago, Consumer Staples Select Sector SPDR Fund is trading 14.66% lower.