More of the same for XLP: down 49 cents (0.67%) for a 5th consecutive day

A quick look at Friday: a tough session dominated by bearish sentiment left XLP 49 cents lower, while setting a $72.27 to $72.83 session range.

Visual analysis of Consumer Staples Select Sector SPDR Fund's chart shows that Consumer Staples Select Sector SPDR Fund could begin to recover as it approaches significant support, now 33 cents away from $72.38. Dipping below could be an indication that further losses are ahead. Trend and momentum 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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $72.28, a low enough level to, generally, suggest that Consumer Staples Select Sector SPDR Fund is trading below its fair value.

Overall, the technical outlook suggests Consumer Staples Select Sector SPDR Fund is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Adobe is down to $320.54, losing $26.46, after ending the previous session around $347. Alibaba is down to $89, losing $5.16, after ending the previous session around $94.16.

Other assets are showing positive performances as Linde went up by 4.75% Friday, and closed at $347.66.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.

Moreover, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.2%. The figure will be published tomorrow at 13:30 UTC.

Consumer Staples Select Sector SPDR Fund hit a significant low of $66.5 around 4 months ago, but has since recovered 10.08%.