| 
July 03, 2023
Today at a glance: Industrial Select Sector SPDR Fund recovered back to $107.34 after dipping down to $106.47, in a session that followed Friday's $107.32 close value.
Industrial Select Sector SPDR Fund is currently trading at $107.34 following the release of ISM Manufacturing PMI (Jun) data from the United States.
This uncertain state for Industrial Select Sector SPDR Fund is reflected by published market data as United States ISM Manufacturing PMI (Jun) released today at 14:00 UTC with a figure of 46, while the previous figure was 46.9. United States ISM Manufacturing Employment (Jun) came out at 48.1, while a consensus of analysts was expecting 50.8. United States ISM Manufacturing Prices (Jun) came out at 41.8, while a consensus of analysts was expecting 44.
Chart analysis suggests Industrial Select Sector SPDR Fund is approaching key support, around $1.18 away from $106.16. 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. Trend and momentum analysis indicates that investors are seeking long positions as Industrial Select Sector SPDR Fund price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Industrial Select Sector SPDR Fund's upper Bollinger Band® is at $107.89, suggesting that a downward move may follow.
Overall, while Industrial Select Sector SPDR Fund has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Industrial Select Sector SPDR Fund was pretty flat today, mixed performances were seen elsewhere as Astrazeneca PLC is down to $65.25, losing $6.32, after ending the previous session around $71.57. Notably, Tesla rose 6.9% today and closed at $261.77. United Parcel Service is trading around $183.77 after ending today's session at $179.25 (up 2.52% today).
The fund has been trending positively for about a month. After hitting an important low of $82.84 approximately 9 months ago, Industrial Select Sector SPDR Fund has bounced back 29.55% since.
