ETF Sector Spotlight For 07/14/2022
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Market Recap For July 14th, 2022
Wednesday’s lackluster close bled into Thursday’s open. However, once again, the major indices recovered most of the losses.
Yesterday was a solid close, and the daily price action is consistent with bullish moves higher. Unless Thursday’s low is taken out, expect a rally.
Yesterday’s Sector Performance
Technology stocks were the outperformers in Thursday’s market.
Financials, Energy and Materials were the laggards.
Five-Day Sector Performance
Staples and Utilities have moved to the top of the trading week.
Communication Services still sits as the bottom sector over the past week.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Consumer Staples Select Sector SPDR (XLP)
If the market can follow through on yesterday’s recovery, all signs seem to point to the technology XLK being one of the top performers.
The next sector to consider, based on Consumer Staples recent performance, would be the XLP.
Good luck!
