| 
June 04, 2023
A quick look at Friday: Consumer Staples Select Sector SPDR Fund went up to $73.61 Friday, gaining 1.38%.
Consumer Staples Select Sector SPDR Fund made an initial breakout above its 200 day Simple Moving Average at $73.53, a potential indicator of a newly emerging bullish phase. Crossed the $72.96 Fibonacci level, next level is at $73.71. In contrast, Consumer Staples Select Sector SPDR Fund is 36 cents away from testing key resistance at $73.97. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems Consumer Staples Select Sector SPDR Fund might continue pointing upwards in the short term.
Consumer Staples Select Sector SPDR Fund shows positive signs, other assets are also on par: Caterpillar skyrockets 8.4% Friday and closed at $209.07. Toyota is trading around $146 after ending Friday's session at $140.65 (up 3.8% today).
Meanwhile, Verizon plunges 3.19% Friday and closed at $35.72.
Furthermore, the market is looking at United States Services PMI is expected tomorrow at 13:45 UTC. United States ISM Non-Manufacturing PMI (May) scheduled to come out tomorrow at 14:00 UTC.
All in all, the fund has been on a negative trend for around a month. Over the past a month, Consumer Staples Select Sector SPDR Fund has retreated 6.31% from a noteworthy peak of $77.5.
