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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!

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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