Friday at a glance: Financial Select Sector SPDR Fund closed Friday at $33.91 (with a daily low of $33.43) after ending Thursday at $33.3 and gaining 1.83%.
Financial Select Sector SPDR Fund made an initial breakout above its 5 day Simple Moving Average at $33.84, a potential indicator of a newly emerging bullish phase. On the other hand, note that Financial Select Sector SPDR Fund could be slowing down soon; it is getting close to the resistance line and is now at $34.19, only 28 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Financial Select Sector SPDR Fund might continue pointing upwards in the short term.
Financial Select Sector SPDR Fund shows positive signs, other assets are also on par: Direxion Daily FTSE China Bull 3X Shares shoots up 22.96% Friday and closed at $23.39. IShares MSCI China ETF added 7.28% and closed around $37.93 Friday.
At the same time, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% Friday and closed at $25.36.
Also worthy of note, United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 17:00 UTC.
Having set a significant high of $41.42 26 days ago, Financial Select Sector SPDR Fund is trading 9.94% lower.