Yesterday at a glance: with a daily low of $81.05, Energy Select Sector SPDR Fund closed yesterday at $81.28, after ending Friday at $80.28 and gaining $1 (1.25%).
Meanwhile, United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
Energy Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $82.25. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, Energy Select Sector SPDR Fund slid below its 3 day Simple Moving Average at $81.26 during the last session — an early indicator that a negative trend could be emerging.
Energy Select Sector SPDR Fund is likely to reverse course and start pointing downward in the short term.
Other markets are also showing gains as ARK Innovation ETF is trading around $36.38 after ending yesterday’s session at $34 (up 7.03% today). Amazon went up by 6.45% yesterday, and closed at $113.79.
At the same time, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% yesterday and closed at $25.36.
Also worthy of note, United States Crude Oil Inventories projected to decline to 1.55 million while previous data was 9.88 million; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Building Permits (Sep) will be released tomorrow at 12:30 UTC.
The past 3 months have been positive for Energy Select Sector SPDR Fund as it added 16.08% compared to its 3-month low of $53.