XLRE is trading at $37.18, its target level is $36.93

• Ongoing downtrend set to be challenged at $36.93 as top of an established support zone
• The lower Bollinger Band® is currently at $147.33 while the higher band is at $155.36

Materials Select Sector SPDR Fund made an initial foray below its 10 day Simple Moving Average around $80.95. In contrast, Materials Select Sector SPDR Fund is trending down and heading towards $80.24, which is only 46 cents away now. Hitting this support line might signal a change of direction.

Looking forward, Materials Select Sector SPDR Fund is poised to extend its strong downtrend and continue declining.

IShares S&P 500 Value ETF's run now faces a challenge at $153.38, which is only 39 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Despite posting gains on yesterday, iShares S&P 500 Value ETF slid below its 10 day Simple Moving Average at $152.41 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $155.36, thereby suggesting that iShares S&P 500 Value ETF is becoming overvalued.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates iShares S&P 500 Value ETF is set for a reversal in the coming days.

Real Estate Select Sector SPDR Fund's bearish trend is facing a possible turning point at $36.93, which is only 25 cents away. Will be interesting to follow. Around $37.26, Real Estate Select Sector SPDR Fund can look to establish a new bullish phase beyond its 10 day Simple Moving Average.

Despite muted price action in Real Estate Select Sector SPDR Fund, chart analysis indicates it is positioned for a bullish run in the short term.

Fundamental indicators – United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.