ETF Sector Spotlight For 06/09/2022
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Market Recap For June 9th, 2022
Finally, after eight days of nothingness, the major indices broke out of their respective ranges, albeit to the downside.
With inflation data coming out today, yesterday could have just been a “sell on the rumor, by on the news”, but breakdowns are breakdowns no matter what.
Yesterday’s Sector Performance
Although still in the red, Consumer Staples was the top performer.
Communication Services and Technology brought up the rear.
Five-Day Sector Performance
Energy remains on top of the market, and the only sector in the green.
Technology is now with Real Estate at the bottom of the weekly chart.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Communication Services Select Sector SPDR (XLC)
The nearly two-week long market consolidation appears to be over, and if yesterday means anything, lower prices are coming.
When the market has taken hits, ETFs such as the XLK and XLC have taken some of the bigger hits. Possible bearish plays could be present.
Good luck!
