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Market Recap For September 20th, 2022

Tuesday did not go quite as planned. Monday left a clear bullish tone, but that tone was nowhere to be found yesterday.

The major indices have traded within a narrow range over the previous three days, a range that will likely break today.

Yesterday’s Sector Performance

Tech and Staples held up best yesterday.

Real Estate took the biggest hits.

Five-Day Sector Performance

Discretionary has made its way to the top of the trading week.

Tuesday did nothing to help Real Estate, which still sits at the bottom.

ETF Trade Watch

Real Estate Select Sector SPDR (XLRE)

Consumer Staples Select Sector SPDR (XLP)

Markets appear set to break one direction or the other today, likely induced by the FOMC statement to be released around 2:00 eastern.

If weakness prevails, Real Estate’s XLRE could struggle the most. If a rally takes hold instead, it might be the XLP leading the way, fueled by Consumer Staples.

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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