| 
May 28, 2023
Friday at a glance: after closing at $73.18 on Thursday, Consumer Staples Select Sector SPDR Fund rallied as high as $73.55 but ended the day at $73.43.
Trend-following investors would be interested to note 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. Momentum evaluation shows that the Relative Strength Index indicates Consumer Staples 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 Consumer Staples Select Sector SPDR Fund's lower Bollinger Band® is at $73, indicating that the market is oversold and fertile for new buyers. A study of Consumer Staples Select Sector SPDR Fund's historical price actions shows Consumer Staples Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $73.7. Of course, crossing it might suggest further gains are ahead.
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.
Consumer Staples Select Sector SPDR Fund shows positive signs, other assets are also on par: Costco is trading around $507.26 after ending Friday's session at $486.55 (up 4.26% today). Intel added 5.84% and closed around $27.4 Friday. Netflix went up by 5.54% Friday, and closed at $378.88.
Consumer Staples Select Sector SPDR Fund is now trading 5.57% below the significant high of $77.5 it set around 27 days ago.
