XLF set to record its 6th up day in a row; currently 8 cents (0.24%) higher

A quick look at yesterday: after ending Tuesday at $33.36, Financial Select Sector SPDR Fund went up to $33.53 only to drop back, yet still traded well overall and closed at $33.44 yesterday.

On the flip side, United States Crude Oil Inventories fell short of the -1 million projections, with new data of -4.58 million.

At the same time, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

With regards to technical trend indicators, chart analysis show 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. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $33.68, thereby suggesting that Financial Select Sector SPDR Fund is becoming overvalued. Technical analysis shows that Financial Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $33.56. Of course, crossing it might suggest further gains are ahead.

Overall, while Financial Select Sector SPDR Fund has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Financial Select Sector SPDR Fund shows positive signs, other assets are also on par: Abbott Laboratories went up by 7.82% yesterday, and closed at $112.29. Intuitive Surgical added 10.88% and closed around $269.28 yesterday. Medtronic is trading around $84.87 after ending yesterday's session at $81.65 (up 3.94% today).

Also worthy of note, United States Initial Jobless Claims projected to decline to 240,000 while previous data was 239,000; data will be released today at 12:30 UTC.

The market is looking forward to the release of new data: United States Philadelphia Fed Manufacturing Index (Apr) will be released today at 12:30 UTC. United States Existing Home Sales (Mar) is expected today at 14:00 UTC.

The fund has been trending positively for about a month. Financial Select Sector SPDR Fund has recovered 10.14% since descending to a significant low of $30.29 around 6 months ago.