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March 15, 2023
A quick look at yesterday: Industrial Select Sector SPDR Fund climbs 1.06% to close at $99.48 yesterday.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected decline to 0.3%.
Technical analysis trend indicators suggest 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, Industrial Select Sector SPDR Fund's lower Bollinger Band® is at $98.52, indicating that the market is oversold and fertile for new buyers.
All in all, the technical analysis suggests Industrial Select Sector SPDR Fund has no clear-cut direction.
Other markets are also showing gains as Meta Platforms is trading around $194.02 after ending yesterday's session at $180.9 (up 7.25% today). The Charles Schwab went up by 9.19% yesterday, and closed at $56.68. Wells Fargo & Company went up by 4.58% yesterday, and closed at $40.17.
Furthermore, the market is looking at United States Retail Sales expected to decline to -0.3% while its preceding data was 3%, data will be available today at 12:30 UTC. Today 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%. Today at 12:30 UTC data for United States Producer Price Index will be released, with an expected decline to 0.3% from the preceding figure of 0.7%.
Industrial Select Sector SPDR Fund hit a significant low of $82.84 around 5 months ago, but has since recovered 18.83%.
