ETF Sector Spotlight For 06/17/2022
Market Recap For June 17th, 2022
Thursday’s final hour of trading had been a constructive one, as stated in Friday’s Spotlight. Sure enough, the major indices found themselves some green.
So, now what? Tough to say, because the path of least resistance is clearly still down, but downside momentum seems to be waning, and markets are very oversold.
Yesterday’s Sector Performance
All the sectors that traders would expect to rally on a positive day did.
Energy keeps taking hits as the oil runup may have finally run its course.
Five-Day Sector Performance
Staples led most of the week, so no real surprise that they finished on top.
Energy had gotten hit almost all week, ending at the bottom was to be expected.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Technology Select Sector SPDR (XLK)
Oil is on the move, most recently to the downside. Whichever way it moves this week will likely have a big effect on the XLE.
With a market rally possibly getting close, Technology is still the space most likely to lead, and that means the XLK is still worth a watch.