ETF Sector Spotlight For 06/21/2022
Market Recap For June 21st, 2022
Last week’s sign of weaking momentum, combined with the constructive close, set the stage for Tuesday’s rally.
Like Friday, the yesterday finished in the green, but it wasn’t the most bullish close. Traders should be ready for anything today.
Yesterday’s Sector Performance
Thanks in part to the rally in oil, Energy stocks led the overall market.
Although still firmly in the green, Materials ended up at the bottom.
Five-Day Sector Performance
Technology catapulted to the top of our weekly chart.
Energy is still at the bottom, but another day or two like yesterday would change that.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
Even though it is not highlighted above, if oil can follow through on yesterday’s move, look for ETFs like the XLE, XOP and USO to perform well.
Otherwise, under the same market circumstances, Technology and Discretionary are still sectors most likely to lead, and that means the XLK and XLY are worth a look.