Key support level at $133.02 looms for downtrending Health Care Select Sector SPDR Fund; currently 53 cents away

• Nearest support line of $133.02 is only 53 cents away
• Health Care Select Sector SPDR Fund looks below $133.45 (10 day Simple Moving Average) as signpost for new negative trend

Health Care Select Sector SPDR Fund's bearish run has lasted 4 days so far (-$1.2). Today's session continued the recent downtrend: a tough session dominated by bearish sentiment left XLV 91 cents lower, while setting a $133.36 to $134.73 session range.

The fund has been trending positively for about a month. Health Care Select Sector SPDR Fund hit a significant low of $119.89 around 10 months ago, but has since recovered 12.15%.

Health Care Select Sector SPDR Fund made an initial break below its 10 day Simple Moving Average at $133.45, a possible indication of a forthcoming negative trend. Despite this, Health Care Select Sector SPDR Fund could begin to recover as it approaches significant support, now 53 cents away from $133.02. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen today and forecasting Health Care Select Sector SPDR Fund to extend its recent losses.

Fundamental indicators – United States Building Permits (Mar) released today at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million.

In the meantime, negative performances are also seen in other markets, Johnson & Johnson lost 2.81% today and closed at $165.67.

Other assets are showing positive performances as The Blackstone Group Inc. surges 4.9% today and closed at $87.23. Lockheed Martin went up by 2.4% today, and closed at $501.41.

Upcoming fundamentals: tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1 million from the preceding figure of 597,000.