ETF Sector Spotlight For 09/28/2021
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Market Recap For September 28th, 2021
Monday kicked off the week with a few bearish signals, as mentioned yesterday, and sure enough, a bearish day came.
Major indices closed on their respective lows, and that typically implies lower prices to come, which is what traders should be prepared for.
Yesterday’s Sector Performance
Energy finished in the green once more, but most gains were lost by day’s end.
Technology and Communication Services were hit the hardest.
Five-Day Sector Performance
Energy still leads the past week, to no one’s surprise.
Real Estate and Utilities are still at the bottom, with Healthcare close behind.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Communication Services Select Sector SPDR (XLC)
We have often spoke of the market’s resiliency, but that “buy the dip” mentality seems to have faded, and lower prices on deck.
If markets do get hit further, as expected, the XLK Technology ETF and the XLC Communication Services ETF will likely get drilled again.
Good luck!
