ETF Sector Spotlight For 03/11/2022
Share
Market Recap For March 11th, 2022
Markets chopped back and forth all week, repeatedly sending mixed signals. Just as Thursday looked somewhat bullish, Friday clearly finished bearish.
The back and forth complicates forecasting, but a couple key levels were broken to the downside, which implies a lower start to the week.
Yesterday’s Sector Performance
Utilities held up best in Friday’s down market.
Technology, Discretionary and Communication Services led the decline.
Five-Day Sector Performance
Even though it is losing ground, Energy still finished as the leader of the week.
Consumer Staples struggled most of the week, ending up at the bottom.
ETF Trade Watch
Consumer Staples Select Sector SPDR (XLP)
Energy Select Sector SPDR (XLE)
The market appears to being looking to head lower, at least to start the week. If so, Consumer Staples, and the XLP, are set to go with it.
Energy has had an amazing run, but there are signs of weakness appearing. The XLE could keep running higher, but bullish traders should be cautious.
Good luck!
