XLF closed at $32.93 after losing 1.82% Friday

A quick look at Friday: a tough session dominated by bearish sentiment left XLF 61 cents lower, while setting a $32.53 to $33.72 session range.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Financial Select Sector SPDR Fund is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Financial Select Sector SPDR Fund's lower Bollinger Band® is at $33.25, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of Financial Select Sector SPDR Fund's historical price actions shows Financial Select Sector SPDR Fund could begin to recover as it approaches significant support, now 53 cents away from $32.4. Dipping below could be an indication that further losses are ahead.

With market volatility ebbing, the current technical outlook indicates Financial Select Sector SPDR Fund will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, The Charles Schwab is down to $58.7, losing $7.77, after ending the previous session around $66.47. After ending Friday's session at $240.96, Caterpillar lost $13.96 and is trading around $227. After ending Friday's session at $421.42, Deere & Company lost $25.49 and is trading around $395.93.

All in all, the fund has been on a negative trend for around a month. Financial Select Sector SPDR Fund has shed 5.79% over the past three months.