ETF Sector Spotlight For 09/22/2021
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Market Recap For September 22nd, 2021
Stocks rallied right out of the gate yesterday, and this time gains were held, or at least most of them were. Some were lost towards day’s end.
Although traders should lean more bullish going into today, yesterday’s close wasn’t really awe inspiring.
Yesterday’s Sector Performance
Energy was the clear winner in yesterday’s trading.
Utilities struggled, as did Communication Services and Healthcare.
Five-Day Sector Performance
Real Estate is the current weekly leader but expect Energy to take over soon.
Materials are still the weakest sector of the past week.
ETF Trade Watch
Financials Select Sector SPDR (XLF)
Energy Select Sector SPDR (XLE)
At this juncture, forecasting the market’s next short-term direction is tough. If stocks continue higher today, Energy and Financials may take charge.
The XLE has resistance just above current levels, while the XLF did not end on a bullish note yesterday. Be cautious with both.
Good luck!
