ETF Sector Spotlight For 06/07/2022
June 7, 2022
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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!
