Wealthpop News

Sector Spotlight: A New Sector Draws Into Focus

Christian Tharp July 28, 2022

Market Recap For July 28th, 2022

As forecast, markets opened with a pullback on Thursday after Wednesday’s big rally. Also in line with our forecast was the ensuing rally to new recovery highs.

The major indices all took out key resistance marks, and that implies even higher prices to come. However, major resistance sits a few percentage points away.

Yesterday’s Sector Performance

Somewhat surprisingly, Real Estate jumped to the top of the market.

Communication Services ended up as the only sector in the red.

Five-Day Sector Performance

Utilities have had a great week, leading the overall market.

Communication Services is still in the negative.

ETF Trade Watch

Real Estate Select Sector SPDR (XLRE)

Utilities Select Sector SPDR (XLU)

The market has had a great couple of days, but a pullback may be getting close, with major levels sitting overhead.

If stocks can keep going, Real Estate and Utilities may have more gas in the tank, leading to good things for XLRE and XLU.

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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