Flat day for XLF as the fund stays anchored around $33.69

Without a clear-cut direction, Financial Select Sector SPDR Fund is trading around $33.69 and ranging between $33.58 and $33.83.

This uncertain state for Financial Select Sector SPDR Fund is reflected by published market data as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%. New United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000). United States Philadelphia Fed Manufacturing Index (Jun) released yesterday at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

Financial Select Sector SPDR Fund made an initial break below its 200 day Simple Moving Average at $33.63, a possible indication of a forthcoming negative trend. Financial Select Sector SPDR Fund's upper Bollinger Band® is at $33.9, suggesting that a downward move may follow. Despite this, Financial Select Sector SPDR Fund is approaching key support, around 45 cents away from $33.24. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Although price action remains in a stalemate, technical analysis suggests Financial Select Sector SPDR Fund could be primed for a break to the downside.

While Financial Select Sector SPDR Fund is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $74.36, NextEra Energy is up 2.45% today to currently trade at around $76.18. Toyota is trading around $165.15 (down $3.03). Having closed the previous session at $61.23, Coca-Cola is up 1.4% today to currently trade at around $62.09.

The fund has been trending positively for about a month. Approximately 4 months ago, Financial Select Sector SPDR Fund reached a significant high of $37 but has struggled to hold onto its gains and declined 9.05% since then.