VLUE set to record its 8th up day in a row; currently 55 cents (0.59%) higher

Yesterday at a glance: after ending Friday at $92.59, iShares MSCI USA Value Factor ETF spiked to $93.35 yesterday, dropped back to starting point range, and rallied again to $93.14.

Meanwhile, United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released yesterday at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) released yesterday at 14:00 UTC with a figure of 49.2, while the previous figure was 51.3.

A study of iShares MSCI USA Value Factor ETF's chart reveals various key levels to watch: iShares MSCI USA Value Factor ETF could be slowing down soon as it approaches resistance at $93.45. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action remains constrained around the key Fibonacci level of $93.08 currently serving as resistance Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $93.81, thereby suggesting that iShares MSCI USA Value Factor ETF is becoming overvalued.

Notwithstanding iShares MSCI USA Value Factor ETF's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Other markets are also showing gains as Exxon Mobil is trading around $116.13 after ending yesterday's session at $109.66 (up 5.9% today). BP rallies 4.74% yesterday and closed at $37.94. Notably, Chevron rose 4.16% yesterday and closed at $163.16.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.8 million. It previously stood at -7.49 million; data will be released tomorrow at 14:30 UTC.

Also worthy of note, United States ADP Nonfarm Employment Change (Mar) will be released tomorrow at 12:15 UTC. United States JOLTs Job Openings (Feb) will be released today at 14:00 UTC.

Having set a significant low of $81.86 6 months ago, iShares MSCI USA Value Factor ETF is trading 13.11% higher.