| 
June 11, 2023
Friday at a glance: a quiet day for Financial Select Sector SPDR Fund as it remained range-bound within a $33.06 – $33.29 range before closing at $33.15.
Financial Select Sector SPDR Fund is approaching key support, around 11 cents away from $33.04. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Financial Select Sector SPDR Fund made an initial breakout above its 3 day Simple Moving Average at $33.12, a potential indicator of a newly emerging bullish phase. Despite this, Financial Select Sector SPDR Fund's upper Bollinger Band® is at $33.44, suggesting that a downward move may follow.
With market volatility ebbing, the current technical outlook indicates Financial Select Sector SPDR Fund will break higher above its recent ranges in the immediate future.
While Financial Select Sector SPDR Fund was pretty flat Friday, mixed performances were seen elsewhere as after ending Friday's session at $124.91, ProLogis lost $3.6 and is trading around $121.31. Adobe went up by 3.41% Friday, and closed at $454. Tesla is trading around $244.4 after ending Friday's session at $234.86 (up 4.06% today).
The fund has been trending positively for about a month. Having set a significant high of $37 4 months ago, Financial Select Sector SPDR Fund is trading 10.43% lower.
