- SPDR S&P Bank ETF is trending down and might signal a change of direction
- The lower Bollinger Band® is currently at $10.44 while the higher band is at $21.38
$45.95 marks the crossover point where SPDR S&P Bank ETF price action falls below its 21 day Simple Moving Average. On the other hand, note that SPDR S&P Bank ETF's downtrend might be halted by its support level at $44.36, which is only 75 cents away.
In the short term, SPDR S&P Bank ETF is expected to maintain its recent downtrend and continue spiralling lower.
It will be interesting to follow how Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's run now faces a challenge at $14.04, which is only 38 cents away.
$45.7 marks the crossover point where iShares Core Dividend Growth ETF price action falls below its 21 day Simple Moving Average. Despite this, a persuasive break of this target could lead to higher losses.
Looking forward, iShares Core Dividend Growth ETF is poised to extend its strong downtrend and continue declining.
Fundamental indicators – United States Existing Home Sales (Sep) came out at 4.71 million, while a consensus of analysts was expecting 4.7 million.