More of the same for XLF: down 37 cents (1.14%) for a 4th consecutive day

Yesterday at a glance: down on the day: Financial Select Sector SPDR Fund closed at $31.96 after ranging between $31.93 and $32.53.

Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 240,000. Potentially significant price fluctuations in Financial Select Sector SPDR Fund are expected to follow.

United States Crude Oil Inventories improved upon its previous reading of -5 million with a new data release of -1.28 million.

While price action maintains a negative bias, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25. United States ISM Non-Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 51.9, while the previous figure was 51.2.

Financial Select Sector SPDR Fund could begin to recover as it approaches significant support, now 21 cents away from $31.75. Dipping below could be an indication that further losses are ahead. Financial Select Sector SPDR Fund's lower Bollinger Band® is at $31.67, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis indicates that Financial Select Sector SPDR Fund (currently on a downtrend) might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, Starbucks is down to $103.96, losing $10.5, after ending the previous session around $114.46. AMD falls 9.22% yesterday and closed at $89.91.

Other assets are showing positive performances as Eli Lilly and Company added 6.68% and closed around $404.2 yesterday.

Looking ahead, ongoing depreciation may be prolonged as United States Non Farm Payrolls projected to come out at 180,000 — worse than previous data of 236,000; data will be released tomorrow at 12:30 UTC. United States Initial Jobless Claims projected to decline to 240,000 while previous data was 230,000; data will be released today at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.

Trading mostly sideways for a month. 2 months ago Financial Select Sector SPDR Fund reached a significant high of $37 but has consequently lost 12.62% since then.