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Could This Sector Have Another 10% Week?


ETF Watchlist

As money moves away from defensive sectors it will make its way back into the movers of the market. Those are sectors of the market, such as Technology, Communication Services, Consumer Discretionary. However, this past week has flipped that usual trend on its ear. This time the bulls have put together a bit of a different looking market rally it seems.

The Materials Sector was the big leader of the market’s bounce last week, with Industrials and Energy also performing very well. Defensive sectors were weak and continue to look weak, which is a good thing for anyone that was looking for a bit of follow through with last week’s push higher.

SPDR S&P Metals & Mining ETF (XME)

After Materials led the market last week, and with gold also looking solid, we look at a newcomer for today’s ETF Watchlist. XME will give access to gold, as well as other commonly used materials like steel, aluminum, and even uranium. Demand for all of these goods is still very high and with global supply chains still struggling to get back to their former glory, supply is lower than it has been in the past.

This is not a typical leader of a market rally, especially one we expect to have more follow through. Still, it is a good addition to our watchlist in case this lemon has more juice worth the squeeze.

Check out the video below for my full market review.

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Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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