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Sector Spotlight: Stocks Close The Week Strong

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Market Recap For August 12th, 2022

Thursday’s close looked as bearish as the come, but the market had other plans on Friday, rallying to new recovery highs.

Conversely to Thursday, Friday’s close was very bullish. So, does today bring a reversal of that move?

Yesterday’s Sector Performance

All sectors ended up in the green on Friday, led by Consumer Discretionary.

Energy and Staples were the under performers.

Five-Day Sector Performance

Energy ended up with the best week of all, even if it ended on a weak note.

Consumer Staples found itself on the bottom of the weekly as well.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Consumer Discretionary Select Sector SPDR (XLY)

Consumer Staples have been a leading underperformer during the current rally. As long as the rally continues, the XLP could struggle most on pullbacks.

If the market insists on running higher this week, Discretionary stocks and the XLY will most likely be one of the leaders.

Good luck!

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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