ETF Sector Spotlight For 02/03/2022
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Market Recap For February 3rd, 2022
Yesterday’s Spotlight was a timely one in that it stated the possibility of an imminent turndown. Thursday clearly delivered.
Amazon lifted the entire market with its earnings, so today should start on an upbeat note. Where it goes from there is a tougher call to make.
Yesterday’s Sector Performance
It wasn’t much, but Consumer Staples stayed in the green yesterday.
Communication Services had a very rough day.
Five-Day Sector Performance
Technology is now the leader over the past week.
Industrials and Materials are now neck and neck at the bottom.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Industrials Select Sector SPDR (XLI)
If markets did make the turn yesterday, Technology will likely be a leader, and that brings the XLK back to the forefront.
However, if there is a rally, and it gets sold into, expect Industrials to remain weak and look for bearish plays on the XLI.
Good luck!
