Risk-on sentiment allowed XLF to post 1.91% gain yesterday

A quick look at yesterday: Financial Select Sector SPDR Fund leaps up 1.91% to close at $32 yesterday.

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. According to momentum evaluation, the Relative Strength Index indicates Financial Select Sector SPDR Fund is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that Financial Select Sector SPDR Fund's lower Bollinger Band® is at $32.3, indicating that the market is oversold and fertile for new buyers.

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

Financial Select Sector SPDR Fund shows positive signs, other assets are also on par: Alphabet jumps 4.68% yesterday and closed at $96.55. Microsoft went up by 4.05% yesterday, and closed at $276.2. Intel is trading around $30.18 after ending yesterday's session at $28.41 (up 6.23% today).

The fund has been trending lower for about a month. Financial Select Sector SPDR Fund has shed 9.9% over the past three months.