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Sector Spotlight: Stocks Trading Sideways


Market Recap For September 27th, 2022

Downside pressure continues to hold serve, even as markets continue to try to muster up rallies to start off this week.

Until a rally can hold and push higher for longer than half of a day, expectations should continue to be for lower prices.

Yesterday’s Sector Performance

Energy finally rebounded yesterday, although it may be short lived.

Consumer Staples took the bigger hits, followed by Utilities.

Five-Day Sector Performance

Thanks to Staples rough Tuesday, Healthcare is now at the top of the week.

Energy, even though it performed well on Tuesday, still sits at the bottom.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Technology Select Sector SPDR (XLK)

Even though it would seem markets want to press higher in the near term, traders should be aware that a rally is likely closing in.

When the time comes for markets to turn around, the XLY and XLK likely give the best opportunities for bullish trades.

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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