ETF Sector Spotlight For 06/24/2022
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Market Recap For June 24th, 2022
Friday’s Spotlight called for higher prices to come, and the last day of the trading week clearly did not disappoint.
The rally to end the week is obviously still intact, so higher prices should follow this week. Pullbacks should be expected along the way.
Yesterday’s Sector Performance
Materials stocks led the market on Friday, just edging out Services.
Energy finished in the green, but at the bottom, overall.
Five-Day Sector Performance
Discretionary won the week, with Services, Real Estate and Tech right behind.
If you follow these Spotlights, it should be no surprise to see Energy at the bottom.
ETF Trade Watch
Communication Services Select Sector SPDR (XLC)
Materials Select Sector SPDR (XLB)
Communication Services finished near the top of both our daily and weekly gauges, so watch for the XLC to run with the rally.
Materials popped to the top, somewhat out of nowhere, possibly signaling the start of an outperforming move with the XLB?
Good luck!
