ETF Sector Spotlight For 06/03/2022
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Market Recap For June 3rd, 2022
Friday surprised many traders as Thursday finished with what seemed to be a firmly bullish close. Markets hit the brakes on that sentiment to end the week.
The rally that started two weeks ago should still be intact. The hard question to answer lately is what path that rally may be taking.
Yesterday’s Sector Performance
Energy was the one bright spot in Friday’s decline.
Consumer Discretionary had been leading but took a break on Friday.
Five-Day Sector Performance
No real surprises to end the week, Discretionary finished on top of the market.
Likewise, Healthcare brought up the rear, as it did most of the past week.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Energy Select Sector SPDR (XLE)
Although there is some uncertainty as to what the next couple of days might bring, the overall direction still appears to be higher.
If that bullish forecast is correct, two ETFs that have been performing better than most as of late would be the XLE and XLY.
Good luck!
