ETF Sector Spotlight For 06/28/2022
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Market Recap For June 28th, 2022
For a market that appeared to be in rally mode, yesterday’s continuation from Monday was a relatively significant decline.
It can never be ruled out that the market is headed back to the lows, but there are key supports just below current prices that could reignite the rally.
Yesterday’s Sector Performance
Energy held the top spot once again and was the only sector in positive territory.
Discretionary found itself at the bottom for the second straight day.
Five-Day Sector Performance
Utilities have taken the top spot on the weekly.
Energy still sits at the bottom but will likely jump the chart soon.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Consumer Discretionary Select Sector SPDR (XLY)
Since it looks like oil has higher prices in mind, the XLE could find itself being in the green a few more times.
If lower market prices come, the XLY will get hit hard, especially if the decline takes stocks to new lows.
Good luck!
