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ETF Sector Spotlight For 01/13/2022


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!

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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