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ETF Sector Spotlight For 06/14/2022

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Market Recap For June 14th, 2022

The major indices hit new lows yesterday, although the selling was not at all as severe as the previous few days.

The market has gotten extremely oversold, and a bounce would seem to be in order. Today’s FOMC statement could be the turning point.

Yesterday’s Sector Performance

Tech stocks were the only ones meaningfully in the green yesterday.

Utilities struggled more than most.

Five-Day Sector Performance

Staples are the strongest of the weak, but that should change if the market rallies.

Real Estate is outpacing all others to the downside.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Consumer Discretionary Select Sector SPDR (XLY)

The environment seems to be ripe for a rally to take hold sooner, rather than later, as markets may have sold on the rumor to buy on today’s news.

If that forecast ends up playing itself out in the coming days, look for the Technology XLK and Discretionary XLY to be likely leaders.

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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