ETF Sector Spotlight For 03/22/2022
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Market Recap For March 22nd, 2022
Market participants continue to be on guard for a pullback, but Tuesday was not to be the day the market rolled over.
Tuesday’s rally seems to have more upside to go, but key resistance marks sit just slightly overhead.
Yesterday’s Sector Performance
Discretionary had the best day, followed by Services.
Energy did not see follow through on Tuesday.
Five-Day Sector Performance
Discretionary is still leading the week, with Technology in 2nd.
Hard to believe any sector would be in the red over the past week, but Utilities almost is.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Energy Select Sector SPDR (XLE)
The rally that began at last Monday’s low continues upward, and as long as it does, the XLY appears to want to lead the way.
Energy’s failure to follow through on Monday’s rally may or may not mean anything, but traders might want to analyze it for trading opportunities either way.
Good luck!
