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Sector Spotlight: FOMC Approaches

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Market Recap For September 16th, 2022

To no real surprise, markets took a dive right out of the gate on Friday. However, the bottom came mid-day and the majority of losses were recouped.

The combination of Thursday and Friday send mixed messages. However, Friday’s price action did leave a slight bullish lean in its wake.

Yesterday’s Sector Performance

Staples moved to the top on Friday, actually finding some green.

Energy had been a stronger sector, but that was not the case on Friday.

Five-Day Sector Performance

Energy lost the week to Healthcare, thanks to Friday’s underperformance.

Most sectors has a rough week, the roughest being that of Materials stocks.

ETF Trade Watch

Healthcare Select Sector SPDR (XLV)

Materials Select Sector SPDR (XLB)

Friday looked slightly bullish by day’s end, which makes it seem as if a rally might start this week off. If so, the XLV is the main ETF of last week’s winning sector.

Panning out to beyond Friday, things still look pretty bearish. If Friday was just a blip, then the XLB could get hit the hardest.

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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