XLF closed at $32.79 after gaining 2.15% Friday

A quick look at Friday: after finishing Thursday at $32.1, Financial Select Sector SPDR Fund went up to $32.91 before paring its losses and closing at $32.79.

Trend and momentum analysis indicates that investors are seeking long positions as Financial Select Sector SPDR Fund price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $32.9, thereby suggesting that Financial Select Sector SPDR Fund is becoming overvalued. Technical chart analysis shows although Financial Select Sector SPDR Fund is appreciating today after rising as high as $32.91, price action is now slowing and consolidating around 22 cents below the $33 resistance level.

Notwithstanding Financial Select Sector SPDR Fund's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Other markets are also showing gains as Caterpillar is trading around $226.63 after ending Friday's session at $209.07 (up 8.4% today). Toyota is trading around $146 after ending Friday's session at $140.65 (up 3.8% today).

Meanwhile, after ending Friday's session at $35.72, Verizon lost $1.14 and is trading around $34.58.

Furthermore, the market is looking at United States Services PMI is expected tomorrow at 13:45 UTC. United States ISM Non-Manufacturing PMI (May) is scheduled for tomorrow at 14:00 UTC.

Trading mostly sideways for a month. Financial Select Sector SPDR Fund has fallen back around 13.24% from the significant high of $37 set 3 months ago.