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Sector Spotlight: Markets Close Slightly Bearish

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Market Recap For August 16th, 2022

The major indices started off lower to begin Tuesday’s trading, but eventually pushed into the green. However, stocks ended flat by the close.

A pullback of more than an hour or two has to be getting close, but the S&P was able to hold above 4300, which is a plus for the bulls.

Yesterday’s Sector Performance

Once again, Consumer Staples demonstrated strength on a weaker day.

Energy and Real Estate battled it out for the laggard of the day.

Five-Day Sector Performance

Discretionary stocks have regained the weekly lead.

Healthcare has had a good trading week, but still at the bottom if it.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Consumer Discretionary Select Sector SPDR (XLY)

Not much happened yesterday to create a clear bullish or bearish stance going into today. However, the current path of least resistance is up.

If it stays that way, the XLY will most likely be a leader, but if stocks finally roll over for a few days, look for the XLP to outperform.

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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