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ETF Sector Spotlight For 06/01/2022

Christian Tharp June 1, 2022

Market Recap For June 1st, 2022

Although markets didn’t take a massive dive yesterday, they also failed to push higher, and instead formed a lower daily low.

Markets can consolidate however they see fit and could very well pop higher today, but Wednesday’s price action seemed to tilt the odds towards a lower resolution.

Yesterday’s Sector Performance

Energy stocks closed in the green, somehow.

Financials brought up the rear.

Five-Day Sector Performance

Discretionary still sits on top of the market, and it’s not really close.

Healthcare is still bringing up the rear.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Technology Select Sector SPDR (XLK)

The market could be in the process of consolidating recent gains, in which case most ETFs will likely decline with it.

However, if the overall path is currently still higher, look for the XLY and XLK to be the top performers once the rally resumes.

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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