Key support level at $126.91 looms for downtrending Health Care Select Sector SPDR Fund; currently 88 cents away

• Despite dipping below $126.91 as support, market bulls are still in control
• Falling prices have precipitated Health Care Select Sector SPDR Fund's approach to its lower Bollinger Band® at $128.02

Health Care Select Sector SPDR Fund's bearish run has lasted 19 days so far (-$5.11). Today's session continued the recent downtrend: a tough session dominated by bearish sentiment left XLV $1.32 lower, while setting a $126.92 to $128.61 session range.

The fund has been trending lower for about a month. Health Care Select Sector SPDR Fund reached a significant high of $140.1 around 5 months ago but has lost 7.84% since then.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Health Care Select Sector SPDR Fund's lower Bollinger Band® is at $128.02, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of Health Care Select Sector SPDR Fund's historical price actions shows Health Care Select Sector SPDR Fund reversed direction at $126.91 support zone and climbed 88 cents above it.

All in all, the technical analysis suggests Health Care Select Sector SPDR Fund has no clear-cut direction.

Fundamental indicators – United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

In the meantime, negative performances are also seen in other markets, AT&T lost 5% today and closed at $15.95.

Other assets are showing positive performances as NVIDIA went up by 24.37% today, and closed at $379.8. TSM explodes 12% today and closed at $90.13.

Upcoming fundamentals: United States Core Durable Goods Orders projected to come out at 0% — worse than previous data of 0.3%; data will be released tomorrow at 12:30 UTC.