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Sector Spotlight: Stock Prices Have Begun To Retreat


Market Recap For August 19th, 2022

Thursday was not a very informative day in the market, but there were subtle hints of bearish towards the end. Friday confirmed that those weren’t just hints.

The decline that started on Tuesday didn’t look complete at Friday’s close, which means lower prices will likely start the week.

Yesterday’s Sector Performance

Healthcare and Energy squeaked out a little green on Friday.

Discretionary edged out Financials for worst performer of the day.

Five-Day Sector Performance

Consumer Staples ended up winning the week, to no real surprise.

Communication Services finished at the bottom of the week.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Communication Services Select Sector SPDR (XLC)

Markets seem set for profit taking. For now, it seems more like a pullback before heading higher, but yes, it could be the start of the next leg of the bear market.

Either way, bearish plays may be the way to go, and the XLY and XLC are two ideal candidates to consider.

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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