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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.

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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