ETF Sector Spotlight For 03/21/2022
March 21, 2022
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Market Recap For March 21st, 2022
In yesterday’s Spotlight, it was stated that traders should be prepared for a pullback after such a large rally. Monday seems to be confirming that,
Odds would seem to favor a continuation of Monday’s weakness, but the market is certainly allowed to rally further, should it deem to do so.
Yesterday’s Sector Performance
Energy finally rebounded to the top of the market,
Services and Discretionary were the weaker sectors.
Five-Day Sector Performance
Discretionary is still on top of the week.
Energy moved out of the cellar, replaced by Utilities.
ETF Trade Watch
SPDR S&P Oil & Gas Exploration & Production (XOP)
Energy Select Sector SPDR (XLE)
Even though markets may very well be gearing up for a pullback, but oil appears to be revving back up again.
A couple of ETFs to consider for bullish trades could be either the XOP or XLE, although they are similar trading vehicles.
Good luck!
