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Sector Spotlight: Market Momentum Remains Bullish


Market Recap For July 27th, 2022

Markets opened Wednesday higher and continued higher after the FOMC statement was released, which perfectly aligned with our forecast.

Stocks closed somewhat off of their highs, so today could see a pullback. However, until a signal appears to show otherwise, the path should remain higher.

Yesterday’s Sector Performance

In a sea of green, Communication Services rose to the top.

Utilities barely managed to find any green at all.

Five-Day Sector Performance

Utilities still lead the week, but that will likely change soon.

Communication Services is still in the negative, even after yesterday.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Technology Select Sector SPDR (XLK)

The pullback that started last Friday appears to be over, and the rally back in force, at least for now. After some surprise moves based on better-than-expected earnings reports with more on the way. For tech, Apple announces earnings after-hours on Thursday, which if report strong earnings, will be sure to take XLK higher.

Google also gave their quarterly report which showed the company missed on both earnings and revenue, dragging the stock and XLC down a bit. Earnings plays for traders are come with an increased level of uncertainty, and with that risk, so trade safe.

If the post-FOMC meeting trend continues, traders should expect the XLC and XLK to perform better than most.

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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