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ETF Sector Spotlight For 05/23/2022

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Market Recap For May 23rd, 2022

No real surprise to start the week. Friday’s reversal implied a higher move, and Monday delivered.

The big question is whether or not the market can hold this one? For the past two months rallies have struggled to get past more than 2 or 3 days.

Yesterday’s Sector Performance

Been a while since all sectors closed in the green, yesterday being led by Financials.

Consumer Discretionary stocks still struggled to keep up.

Five-Day Sector Performance

Energy was slipping at week’s end, so no shock to see other sectors move to the top.

Staples are still at the bottom, but the sector recovered a little yesterday.

ETF Trade Watch

Financials Select Sector SPDR (XLF)

Energy Select Sector SPDR (XLE)

The market looks poised to head higher, but it has appeared that way before, only to see stocks completely roll over the next day.

However, if this rally can hold on, two sector ETFs that are working right now would be the XLF and XLE.

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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