ETF Sector Spotlight For 01/31/2022
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Market Recap For January 31st, 2022
Yesterday’s Spotlight forecast a higher start to the week, and a higher start is what the market gave traders.
Although the overall market trend is still expected to be lower, the current countertrend move appears to have more room to go.
Yesterday’s Sector Performance
Consumer Discretionary left the rest of the market in its dust.
Energy and Staples were the weakest, but they did end up in the green.
Five-Day Sector Performance
Energy is still on top of the weekly, but Technology is catching up in a hurry.
Industrials are now the only sector in the red over the past week.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
Markets have been skyrocketing higher over the past two days, and as of yesterday’s close they showed no signs of slowing down.
Although it’s hard to say how much further they will go, but if they go the XLY and XLK should perform very well.
