Type to search

Wealthpop News

ETF Sector Spotlight For 06/17/2022

Share

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.

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