ETF Sector Spotlight For 03/28/2022
Share
Market Recap For March 28th, 2022
Friday’s market was a back-and-forth affair. A new recovery high was hit, then a new low of the day, then back to the high, and down again, and back up.
Hard to work with that kind of day, but the bottom line it the rally that started two weeks ago is still intact, albeit overbought in the short run.
Yesterday’s Sector Performance
Energy was replaced at the top by Consumer Discretionary, again.
Being replaced wasn’t enough, Energy decided to fall right back to the bottom.
Five-Day Sector Performance
Yesterday’s performance sent Discretionary back to the top of the weekly.
Healthcare is still at the bottom, but now it’s at least in the green.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
Even though markets seem way overdue for a more meaningful pullback than we’ve seen lately, they just keep hitting new recovery highs.
Nothing says the rally can’t continue, regardless of how long in the tooth it seems. If it does keep going, the XLY and XLK are the likely leaders.
Good luck!
