ETF Sector Spotlight For 02/22/2022
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Market Recap For February 22nd, 2022
Markets have made it down to the January lows, with the NDX testing the literal low point and finding support. The S&P dipped below 4300 before holding just above it.
The major indices keep attempting to hold key marks, but in the end, they have not been able to for more than a day. Will yesterday be different?
Yesterday’s Sector Performance
Utilities almost managed to finish in the green.
Consumer Discretionary stocks ended up deep in the red, way more than others.
Five-Day Sector Performance
Consumer Staples are still on top of the overall market, at least for now.
Yesterday was enough to send the Consumer Discretionary names to the bottom.
ETF Trade Watch
Consumer Staples Select Sector SPDR (XLP)
Consumer Discretionary Select Sector SPDR (XLY)
With the S&P sitting at major support, today could make or break the bulls. If the benchmark can gain lift off, the market leadership could change.
Until then, Consumer Staples have been strongest, with makes the XLP enticing. The Discretionary XLY has been profitable for bearish traders.
Good luck!
