A quick look at yesterday: after closing the previous trading day at $97.85 and dropping to $91.34, the e-commerce company closed yesterday at $92.65. By the end of the session, Etsy gave up a total of 5.31%.

United States Building Permits (Apr) is next today at 12:30 UTC.

United States Retail Sales improved upon its previous reading of -0.7% with a new data release of 0.4%.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Core Retail Sales improved upon its previous reading of -0.5% with a new data release of 0.4%.

While price action maintains a negative bias, United States API Weekly Crude Oil Stock came out at 3.69 million, while a consensus of analysts was expecting -1.3 million.

Etsy, Inc. could begin to recover as it approaches significant support, now $1.71 away from $90.94. Dipping below could be an indication that further losses are ahead. Etsy's lower Bollinger Band® is at $89.32, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, it seems Etsy might start pointing upward in the short term.

Etsy was not the only decliner in the consumer discretionary sector; Nike went down 2.8%, closed at $119.83. Walt Disney lost 2.02% yesterday and closed at $91.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Amazon traded at $113.4 after closing yesterday's trading day at $111.2 (up 1.98%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Crude Oil Inventories expected to decline to -920,000 while its preceding data was 2.95 million, data will be available today at 14:30 UTC.

Moreover, United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (May) is scheduled for tomorrow at 12:30 UTC.

On a negative trend for around 3 months. The e-commerce company is now trading 33.97% below the significant high of $148.2 it set around 3 months ago.