Bullish session for Health Care Select Sector SPDR Fund falls 56 cents short of key resistance at $134.15

• Price action backs away from resistance at $134.15 despite bullish mood
• Health Care Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $133.71, a potential indicator of a newly emerging bullish phase.

After 5 days of level trading, Health Care Select Sector SPDR Fund went up. Friday's session shows improvement: with a daily low of $132.83, Health Care Select Sector SPDR Fund closed Friday at $133.59, after ending Thursday at $132.4 and gaining $1.19 (0.9%).

The fund has been trending positively for about a month. Health Care Select Sector SPDR Fund is now trading 5.5% below the significant high of $140.1 it set around 4 months ago.

Trend-following investors would be interested to note that Health Care Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $133.71, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $135.49, thereby suggesting that Health Care Select Sector SPDR Fund is becoming overvalued. Visual analysis of Health Care Select Sector SPDR Fund's chart shows that although Health Care Select Sector SPDR Fund is appreciating today after rising as high as $134.04, price action is now slowing and consolidating around 56 cents below the $134.15 resistance level.

Overall, the technical outlook suggests Health Care Select Sector SPDR Fund is likely to remain muted for the immediate future, with no clear-cut direction.

Other markets are also showing gains as Apple added 4.69% and closed around $165.79 Friday. Walt Disney went up by 3.15% Friday, and closed at $100.52. Notably, BHP Billiton rose 4.49% Friday and closed at $58.18.