Sector Spotlight: All Eyes On Jackson Hole
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Market Recap For August 25th, 2022
The major indices finally moved out of the 2+ day range they had been in and rallied into Thursday’s close.
Closing near the high of the day is always a bullish sign, but there’s a lot of news on today’s docket that could throw a wrench into things.
Yesterday’s Sector Performance
Materials took the lead on Thursday, followed by Communication Services.
Staples ended up at the bottom, but still in the green.
Five-Day Sector Performance
Energy is still the only sector noticeably in the green over the past trading week.
Technology has moved into the weekly cellar.
ETF Trade Watch
Communication Services Select Sector SPDR (XLC)
Technology Select Sector SPDR (XLK)
Stocks clearly closed on a positive note yesterday and appear set to move higher today, pending any surprises that might come out of Jackson Hole.
If the rally extends further today, the usual suspects, like the XLC and XLK, will likely perform towards the top of the market.
Good luck!
