ETF Sector Spotlight For 01/09/2022
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Market Recap For January 9th, 2022
Markets pressed slightly lower on Friday, but nothing major. All major indices finished slightly lower on the day.
Although the selling of late has been somewhat light, the path of least resistance is clearly lower until something changes.
Yesterday’s Sector Performance
Energy continues to outperform the rest of the market.
Consumer Discretionary was the weakest on Friday.
Five-Day Sector Performance
The least surprising thing from last week’s trading was Energy finishing on top.
Healthcare, Technology and Real Estate finished together at the bottom.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Real Estate Select Sector SPDR (XLRE)
Markets do not seem to have firm conviction either way at this juncture. Indices are clearly in a down move, but it could turn around at any time.
The recent market weakness hasn’t stopped the XLE from plowing higher, but it has taken the XLRE lower with every step.
Good luck!
