Type to search

Wealthpop News

ETF Sector Spotlight For 06/16/2022

Share

Market Recap For June 16th, 2022

Markets opened up lower yesterday and never really looked back. However, a few hours into the day the low was mostly put in.

Although it was clearly a rough day, and lower overall prices should be expected, the final hour of the day was somewhat constructive.

Yesterday’s Sector Performance

Defensive sectors Staples, Healthcare and Utilities held up best on a rough day.

Energy was drilled once again, thanks in part to oil’s opening drop.

Five-Day Sector Performance

Defensive sectors are also on top of the weekly chart, led by Staples.

Energy is the bottom of the weekly, followed by Tech and Discretionary.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Healthcare Select Sector SPDR (XLV)

If it wasn’t for Energy’s rough day, Technology and Discretionary would have been at the bottom of the market, as forecast.

Also as traders might expect, Staples and Healthcare rose to the top, which helped the XLP and XLV hold on better than most.

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.

  • 1