Sector Spotlight: The Calm Before The Storm
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Market Recap For September 14th, 2022
Although the market did move lower on Wednesday, it wasn’t as much of a down move as many might have expected. The day eventually ended slightly in the green.
Today should provide clues into the market’s plans for the remainder of the week. If yesterday’s lows fail to hold, expect lower prices to follow.
Yesterday’s Sector Performance
Energy performed well again, clearly leading Wednesday’s market.
Real Estate ended up as the biggest loser on the day.
Five-Day Sector Performance
Energy is now the only sector meaningfully in the green.
Real Estate is struggling on the weekly chart as well.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Real Estate Select Sector SPDR (XLRE)
The one thing that has been working lately has been Energy, but it’s hard to say how long that will last. For now, its outperformance makes the XLE worth a look.
On the other hand, Real Estate has not been working. Bearish traders might choose to check out the XLRE for bearish setups.
Good luck!
