After five days of declines, Financial Select Sector SPDR Fund is up 51 cents today

After closing the previous trading day at $31.63, Financial Select Sector SPDR Fund is up to $32.14, which makes for a move of 1.61%/51 cents today.

Meanwhile, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

Trend-following investors would be interested to note that 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. According to momentum evaluation, the Relative Strength Index indicates Financial Select Sector SPDR Fund is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that Financial Select Sector SPDR Fund's lower Bollinger Band® is at $32.33, indicating that the market is oversold and fertile for new buyers.

All in all, the technical analysis suggests Financial Select Sector SPDR Fund has no clear-cut direction.

Other markets are also showing gains as having closed the previous session at $51.91, The Charles Schwab is up 11.91% today to currently trade at around $58.09. Meta Platforms explodes 6.22% to trade around $192.15. Wells Fargo & Company is up 3.54%.

Furthermore, the market is looking at as things stand, upcoming United States Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of 3%. New data is set to be published tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.1% from the preceding figure of 2.3%. United States Producer Price Index expected to decline to 0.3% while its preceding data was 0.7%, data will be available tomorrow at 12:30 UTC.

The fund has been trending lower for about a month. Financial Select Sector SPDR Fund is now trading 9.83% below its 3-month high of $39.52.