A quick look at today: SPDR S&P Midcap 400 ETF Trust went up to $426.89 today, gaining 1.45%.
Meanwhile, United States API Weekly Crude Oil Stock came out at -1.27 million, while a consensus of analysts was expecting 1.55 million. United States TIC Net Long-Term Transactions (Aug) released today at 20:00 UTC with a figure of 197.9 billion, while the previous figure was 21.4 billion. Data for United States Industrial Production published today at 13:15 UTC came out at 0.4%, beating projections of 0.1% and showing improvement over the preceding figure of -0.1%.
A study of SPDR S&P Midcap 400 ETF Trust's historical price actions shows after reaching the known resistance zone beginning at $431.86, SPDR S&P MIDCAP 400 ETF Trust price action retreated approximately $4.97. Trend-focused traders would be interested to note that investors are seeking long positions as SPDR S&P Midcap 400 ETF Trust price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Bollinger band analysis indicates that current price action is approaching the upper band at $432.09, thereby suggesting that SPDR S&P Midcap 400 ETF Trust is becoming overvalued.
With market volatility ebbing, the current technical outlook indicates SPDR S&P Midcap 400 ETF Trust will remain range-bound for the immediate future.
SPDR S&P Midcap 400 ETF Trust shows positive signs, other assets are also on par: Lockheed Martin shoots up 8.69% today and closed at $397.31. Raytheon Technologies went up by 3.42% today, and closed at $87.36.
In the meantime, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% today and closed at $25.36.
Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.55 million from the preceding figure of 9.88 million.
Furthermore, the market is looking at United States Building Permits (Sep) is expected tomorrow at 12:30 UTC.
Having set a significant high of $531.03 22 days ago, SPDR S&P Midcap 400 ETF Trust is trading 4.78% lower.