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ETF Sector Spotlight For 03/18/2022

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Market Recap For March 18th, 2022

Starting from this past Monday’s low, the market was relatively easy to forecast, and Friday was no exception. The rally pushed further.

Although there were no signs of exhaustion, yet, last week was a historic runup and a pullback will take hold at some point. Traders should be prepared for one soon.

Yesterday’s Sector Performance

Technology and Discretionary had another very good day.

Utilities, once again, did not.

Five-Day Sector Performance

Discretionary won the week, not surprisingly. Technology was next.

Energy struggled last week, which is normal after major rallies.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Technology Select Sector SPDR (XLK)

Even though the rally should continue, a pullback has become increasingly more probable. In short, a better entry may require patience.

Whether the rally runs higher now, or later, two ETFs that should be on traders’ watchlists are the XLY and XLK.

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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