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ETF Sector Spotlight For 02/07/2022


Market Recap For February 7th, 2022

Friday’s close didn’t leave much to be desired, regardless if a trader is bullish or bearish. Yesterday brought a result that reflected that sentiment.

Even though stocks ended up mostly in the red, Friday’s lows held, and so did the key level of 14500 on the Nasdaq 100. Today should add some clarity.

Yesterday’s Sector Performance

Even though oil was down, Energy stocks led the market.

Communication Services were the clear laggards.

Five-Day Sector Performance

Of course, Energy is still the leader of the week.

Yesterday pushed Communication Services further into the red.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Energy Select Sector SPDR (XLE)

Yesterday didn’t do much to add clarity to the forecast for the next short-term move, but if it’s a higher move, the XLE could keep running higher.

A break below the past two day’s lows would diminish the odds of the move being higher, and that might make the XLC more appealing.

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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