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ETF Sector Spotlight For 06/13/2022

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Market Recap For June 13th, 2022

The week started off exactly as expected. Last week’s Thursday-Friday decline did not appear to be over, and new lows seemed a foregone conclusion.

New lows were hit, right out of the gate on Monday, and the major indices finished at their lows. Traders should expect more lows to come.

Yesterday’s Sector Performance

Consumer Staples was the top performer again, although that’s not saying much.

Even though oil held up well, Energy stocks did not.

Five-Day Sector Performance

Yesterday’s rout pushed Staples to the top of the weekly as well.

Discretionary is now back at the bottom of the weekly chart.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Consumer Discretionary Select Sector SPDR (XLY)

The past three days in the market have been nasty, and it sure didn’t look like the drop was over at yesterday’s close.

Whether it is or not, the XLK and XLY are two ETFs that fall the hardest during declines, but also rally the most when markets rebound.

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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