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ETF Sector Spotlight For 06/10/2022


Market Recap For June 10th, 2022

As stated in Friday’s Spotlight, breakdowns are breakdowns, and Thursday’s break signaled lower prices should be coming. Friday did not disappoint.

A test of 2022 lows appear to be imminent, and new lows sure look likely. Unless today brings a complete U-turn, look out below.

Yesterday’s Sector Performance

Consumer Staples was the top performer again.

As usual, when market sell off, Technology and Discretionary get hit hardest.

Five-Day Sector Performance

Energy finished as the top sector for the week, followed by Staples.

Several sectors were clustered at the bottom, led by Technology.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Energy Select Sector SPDR (XLE)

If traders are looking for strength in major sector ETFs, the obvious choice at this juncture would be the XLP or XLE.

However, the bear market appears to be reasserting itself, and in that scenario, traders might be best to layoff the long positions.

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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