Sector Spotlight: Back To Bear Market Territory
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Market Recap For September 26th, 2022
Markets tried to muster up a small rally to start the week, but once again it was sold into, and stocks finished in the red.
Although yesterday ended on a clear bearish note, meaning more downside could be coming, traders should keep in mind that stocks are extremely oversold.
Yesterday’s Sector Performance
The only sector that managed to stay even slightly positive was Consumer Staples.
Real Estate, Utilities and Energy led the charge to the downside.
Five-Day Sector Performance
Consumer Staples are still on top of the trading week, to no surprise.
Energy has had a whopper of a bad run over the last 5 days.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Real Estate Select Sector SPDR (XLRE)
Bearish trades should be taken with a bit of caution, as a low would seem to be getting close. That being said, the path is still pointing towards lower prices.
And if stocks do move lower, and in a meaningful way, Real Estate and Energy have performed worst, as has the XLRE and XLE.
Good luck!
