Tentatively higher from an earlier low of $69.91, Consumer Staples Select Sector SPDR Fund is up to $70.57 today, adding 42 cents, or 0.6%, to yesterday's closing price of $70.15.
United States's Consumer Confidence new data released of 102.5 below its previous figure.
Nevertheless, Consumer Confidence in United States fell short of market expectations (106.5) with a reading of 102.5, continuing the decline from the previous figure of 107.8.
At the same time, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) released today at 13:00 UTC with a figure of 13.1, while the previous figure was 16. United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Fibonacci-focused traders would be interested to note that Consumer Staples Select Sector SPDR Fund is oscillating around the key Fibonacci resistance level of $70.54. Analysis based on the asset volatility indicates that Consumer Staples Select Sector SPDR Fund's upper Bollinger Band® is at $70.35, this is a slight indication of a slowdown. Consumer Staples Select Sector SPDR Fund chart analysis: Consumer Staples Select Sector SPDR Fund broke through the $70.54 resistance and climbed 3 cents above it.
Notwithstanding Consumer Staples Select Sector SPDR Fund's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Consumer Staples Select Sector SPDR Fund shows positive signs, other assets are also on par: having closed the previous session at $43.32, iShares Core Total USD Bond Market ETF is up 1.03% today to currently trade at around $43.77. Having closed the previous session at $88.67, iShares MBS ETF is up 1.22% today to currently trade at around $89.75.
In the meantime, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades around $25.35, with no major change.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 200,000, having previously been at -1.73 million. The figure will be published tomorrow at 14:30 UTC.
The market is looking forward to the release of new data: United States New Home Sales (Sep) is expected tomorrow at 14:00 UTC.
Consumer Staples Select Sector SPDR Fund is now trading 5.49% above the significant low ($66.5) it slumped to 18 days ago.