Tentatively higher from an earlier low of $89, iShares MSCI USA Value Factor ETF is up to $90.23 today, adding 97 cents, or 1.09%, to yesterday's closing price of $89.26.
United States's Consumer Confidence new data released of 102.5 below its previous figure.
On the flip side, following a previous reading of 107.8, Consumer Confidence in United States released today at 14:00 UTC fell short of the 106.5 figure expected by analysts with an actual reading of 102.5.
At the same time, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) came out at 13.1, while a consensus of analysts was expecting 14.4. United States Services PMI released yesterday at 13:45 UTC with a figure of 46.6, while the previous figure was 49.3.
IShares MSCI USA Value Factor ETF made an initial breakout above its 50 day Simple Moving Average at $89.84, a potential indicator of a newly emerging bullish phase. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $89.72, thereby suggesting that iShares MSCI USA Value Factor ETF is becoming overvalued. IShares MSCI USA Value Factor ETF broke through the $89.78 resistance and climbed 45 cents above it.
According to technical analysis, it looks as if iShares MSCI USA Value Factor ETF likely to continue pointing upward in the short term.
IShares MSCI USA Value Factor ETF shows positive signs, other assets are also on par: having closed the previous session at $43.32, iShares Core Total USD Bond Market ETF is up 1.06% today to currently trade at around $43.78. Having closed the previous session at $88.67, iShares MBS ETF is up 1.27% today to currently trade at around $89.8.
In the meantime, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades around $25.35, with no major change.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 200,000. It previously stood at -1.73 million; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States New Home Sales (Sep) will be released tomorrow at 14:00 UTC.
IShares MSCI USA Value Factor ETF has recovered 9.04% since descending to a significant low of $81.86 around 25 days ago.