After three days of going down, Etsy is up 2% today

After closing the previous trading day at $124.84, Etsy is up to $127.33, which makes for a move of 2%/$2.49 today.

United States FOMC Meeting Minutes is next today at 19:00 UTC.

At the same time, United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.

Trend analysis indicates 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 asset volatility analysis, Etsy's lower Bollinger Band® is at $124.24, indicating that the market is oversold and fertile for new buyers.

Overall, the technical outlook suggests Etsy is likely to remain muted for the immediate future, with no clear-cut direction.

A look at other consumer discretionary stocks also shows bullish price action as Amazon added 2.29% to its value, now trading at $96.74. Home Depot gained 1.38%, currently at $299.57. Lowe's is up 1.07%.

Furthermore, the market is looking at United States Crude Oil Inventories expected to decline to 1.17 million while its preceding data was 16.28 million, data will be available tomorrow at 16:00 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 194,000; data will be released tomorrow at 13:30 UTC.

Elsewhere, United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.

The e-commerce company is now trading 80.93% above the significant low ($69) it slumped to 8 months ago.