Type to search

Wealthpop News

ETF Sector Spotlight For 06/07/2022

Share

Market Recap For June 7th, 2022

The sideways consolidation continued on Tuesday as stocks regained all that was lost from Monday’s high.

Once again, the S&P is knocking on the door of 4160. After Thursday’s failed attempt, will the 3rd time be the charm?

Yesterday’s Sector Performance

Energy moved back to the top of the market, like clockwork.

Consumer Discretionary was the only sector in the red yesterday.

Five-Day Sector Performance

Energy has now distanced itself from the rest of the market.

The sectors are the bottom of the market are all the defensive names.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Industrials Select Sector SPDR (XLI)

The top two sectors on both the daily and weekly are Industrials and Energy, and that does not appear to be changing anytime soon.

As long as that trend holds, traders may want to take a look at either the XLE or XLI for bullish trading opportunities.

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.

  • 1