XLF closed at $32 after gaining 0.38% Thursday

Thursday at a glance: after closing at $31.87 Wednesday, XLF maintained a strong bullish bias that helped the fund close higher at $32 Thursday. However, market bears ensured the Financial Select Sector SPDR Fund topped out at $32.05 and that by the end of the session, the market had marked out a distinct $31.77 to $32.05 range.

Technical chart analysis shows Financial Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $32.1. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that Financial Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $31.94, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Financial Select Sector SPDR Fund's upper Bollinger Band® is at $32.5, this is a slight indication of a slowdown.

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

Financial Select Sector SPDR Fund shows positive signs, other assets are also on par: notably, Alphabet rose 3.76% Thursday and closed at $104.95. Alibaba is trading around $102.74 after ending Thursday's session at $98.55 (up 4.25% today). Microsoft leaps up 2.55% Thursday and closed at $284.34.

Furthermore, the market is looking at United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.

The fund has been trending lower for about a month. Financial Select Sector SPDR Fund is now trading 9.28% below its 3-month high of $37.88.