ETF Sector Spotlight For 03/10/2022
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Market Recap For March 10th, 2022
This week has been a challenging game of whack-a-mole when it comes to pinning down the market’s next move.
Rallies reverse, as do the declines. So, forecasting today’s move is probably a waste of time, but yesterday seemed to end on more of a bullish note.
Yesterday’s Sector Performance
Oil may have declined, but Energy names did not.
Technology stocks saw the biggest pullbacks on the day.
Five-Day Sector Performance
Nothing has changed at the top for quite a while, as Energy stocks lead the market.
Consumer Staples are at the bottom, followed by Technology.
ETF Trade Watch
Energy Select Sector SPDR (XLU)
Technology Select Sector SPDR (XLK)
Although the market looked slightly bullish at day’s end, it looked bullish on Wednesday as well. If a drop comes, the XLK should be weaker than most.
After hitting new highs earlier this week, the XLU pulled back. Yesterday’s turnaround could mean another run to the high.
Good luck!
