Price action is gradually approaching a key resistance hurdle at $128.56
Price action fails to breach Fibonacci resistance at $127.94 and retreats 12.36 cents upon testing

During a 22 day fall, dropping a total of 4.77%, ($7.48), A possible change of direction spotted from yesterday; Health Care Select Sector SPDR Fund ended Tuesday at $126.74. yesterday it went up to $128.04 only to drop back, yet still managed to close at $127.82.

All in all, the fund has been on a negative trend for around a month. Health Care Select Sector SPDR Fund has fallen back around 9.54% from the significant high of $140.1 set 5 months ago.

Health Care Select Sector SPDR Fund made an initial breakout above its 3 day Simple Moving Average at $127.35, a potential indicator of a newly emerging bullish phase. When "Bullish Engulfing” is detected at the bottom of a bearish trend, it is typically indicative of a trend reversal. Health Care Select Sector SPDR Fund's lower Bollinger Band® is at $126.49, indicating that the market is oversold and fertile for new buyers. In contrast, Health Care Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $128.56. Of course, crossing it might suggest further gains are ahead.

Health Care Select Sector SPDR Fund continues to move higher with technical analysis indicating the trend will continue in the short term.

Fundamental indicators – United States JOLTs Job Openings (Apr) came out at 10.10 million, while a consensus of analysts was expecting 9.78 million.

Health Care Select Sector SPDR Fund shows positive signs, other assets are also on par: Pfizer went up by 2.73% yesterday, and closed at $38.02. Intel went up by 4.83% yesterday, and closed at $31.44. Verizon is trading around $35.63 after ending yesterday's session at $34.9 (up 2.09% today).

Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million. It previously stood at -12.46 million; data will be released today at 15:00 UTC.