Friday at a glance: down on the day: Financial Select Sector SPDR Fund closed at $34.53 after ranging between $34.48 and $34.78.
Financial Select Sector SPDR Fund made an initial break below its 3 day Simple Moving Average at $34.65, a possible indication of a forthcoming negative trend. On the other hand, note that Financial Select Sector SPDR Fund could begin to recover as it approaches significant support, now 12 cents away from $34.41. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $34.26, a low enough level to, generally, suggest that Financial Select Sector SPDR Fund is trading below its fair value.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Financial Select Sector SPDR Fund.
In the meantime, negative performances are also seen in other markets, Chevron is down to $168, losing $5.54, after ending the previous session around $173.54. Walmart lost 2.33% Friday and closed at $148.78. After ending Friday's session at $371.79, Eli Lilly and Company lost $10.79 and is trading around $361.
Furthermore, United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index figure is projected at 7.3%. It previously stood at 7.7%; data will be released tomorrow at 13:30 UTC. United States Core Consumer Prices figure is projected at 0.3%. It previously stood at 0.3%; data will be released tomorrow at 13:30 UTC.
The fund has been trending positively for about a month. Financial Select Sector SPDR Fund is now trading 14.3% above the significant low ($30.29) it slumped to 2 months ago.