Today at a glance: a tough session dominated by bearish sentiment left VLUE $2.22 lower, while setting a $92.41 to $93.93 session range.
United States Core Retail Sales fell short of the 0.2% projections, with new data of -0.2%. Retail Sales in United States fell short of market expectations (-0.1%) with a reading of -0.6%, continuing the decline from the previous figure of 1.3%.
Meanwhile, United States Philadelphia Fed Manufacturing Index (Dec) released today at 13:30 UTC with a figure of -13.8, while the previous figure was -19.4.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Price action remains constrained around the key Fibonacci level of $93.05 currently serving as support. If price action breaks below, the next Fib hurdle is $89.57. A crossing of the lower Bollinger Band® at $93.14 suggests further losses may follow for iShares MSCI USA Value Factor ETF. IShares MSCI USA Value Factor ETF fell below the $93.26 support zone and moved 48 cents beyond it; the next level of support with significant buyer interest is estimated at $91.3.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting iShares MSCI USA Value Factor ETF to extend its recent losses.
In the meantime, negative performances are also seen in other markets, Netflix lost 8.63% today and closed at $317.83. IBM lost 5% today and closed at $149.86. Automatic Data Processing lost 4.34% today and closed at $260.08.
Having set a significant high of $114.92 2 months ago, iShares MSCI USA Value Factor ETF is trading 16.06% lower.