ETF Sector Spotlight For 09/21/2021
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Market Recap For September 21st, 2021
Sure enough, markets followed through on Monday’s late day rally with a higher start of the day on Tuesday. However, gains failed to hold.
Unless today brings a meaningful rally, traders should expect a bearish tone moving forward. A break of yesterday’s lows should mean a retest of Monday’s lows.
Yesterday’s Sector Performance
Energy finished in the green and on top of the market.
Industrials were the weakest, followed by Communication Services.
Five-Day Sector Performance
Healthcare is still having the best week.
Materials are still the weakest sector of the past week.
ETF Trade Watch
Materials Select Sector SPDR (XLB)
Industrials Select Sector SPDR (XLI)
Although there is always the case to be made of how resilient the market has been, the past days and weeks are clearly bearish.
If that trend continues, which it appears it might, Industrials and Materials are lagging all others, and that means the XLI and XLB could be in trouble.
Good luck!
