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Sector Spotlight: CPI Comes In Flat, Stocks Rise

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Market Recap For August 10th, 2022

Markets jumped nicely on Wednesday, continuing the rally that started nearly two months ago.

Of course, any day could bring a reversal, but nothing about yesterday’s rally seems to be over. Expect higher prices, for now.

Yesterday’s Sector Performance

Several sectors battled it out for the top spot, with Materials escaping with the win.

Utilities ended up as the weakest sector.

Five-Day Sector Performance

Real Estate and Materials are leading the weekly.

Consumer Staples is the only sector in the red over the past week.

ETF Trade Watch

Materials Select Sector SPDR (XLB)

Financial Select Sector SPDR (XLF)

The market seems to be starting another leg up, which could favor the top sectors of Materials and Financials. As you can see by the above graphs, both XLF and XLB gapped up and have continued a move higher. While this could be the next leg up, be careful of a pull back that often occurs after abnormal price jumps.

there are several areas that will see gains if the bullish market trend continues. As we make moves higher, the markets pull themselves further and further out of bear territory. Those who are still bearish on the market may way to consider taking any profits off the table.

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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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