ETF Sector Spotlight For 01/13/2022
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Market Recap For January 13th, 2022
Entering Thursday, markets seemed somewhat indecisive. Traders should not have been surprised either way the market went.
Turns out, the market went down, especially the Nasdaq. It would appear that the recovery that started at Monday’s low is over, and lower prices are on deck.
Yesterday’s Sector Performance
Defensive sectors such as Utilities and Staples outperformed.
Technology and Discretionary got hit hardest.
Five-Day Sector Performance
Energy still leads the week but watch for defensive sectors to catch up.
Technology and Discretionary are also at the bottom of the weekly.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Consumer Discretionary Select Sector SPDR (XLY)
At yesterday’s close, markets looked bearish, to say the least. There is a good case to be made that the bigger picture is also bearish.
So, if markets do press lower, and eventually take out Monday’s low, expect the XLK and XLY to continue to be the weakest sectors.
Good luck!
