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Sector Spotlight: The Bulls And Bears Battle


Market Recap For August 23rd, 2022

Markets declined a little further on Tuesday, but nothing major. Most stocks were in the green up until the final hour of trading.

Today could be an important day when it comes to the market’s next move. If a rally can take hold, stocks may make a run at new rally highs.

Yesterday’s Sector Performance

Once again, Energy was the top performer.

Real Estate and Healthcare were Tuesday’s laggards.

Five-Day Sector Performance

Energy’s recent run now has it as the only sector in the green.

Communication Services are still the weakest sector over the past week.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Communication Services Select Sector SPDR (XLC)

As long as oil continues to press higher, which appears set to do, the XLE will also likely move higher as well.

If the stock market fails to end its recent slide, odds would seem to favor the XLC leading the charge lower.

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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