Sector Spotlight: What Will October Bring?
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Market Recap For October 3rd, 2022
Thursday’s end of day rally followed through at Friday’s open, but once again, the larger forces took over and new bear market lows were hit for the S&P and Dow.
The start of the week seems likely to start lower, but bearish sentiment and momentum are at extremes, extremes that typically appear at or near lows.
Yesterday’s Sector Performance
As bad as Friday ended, Real Estate finished firmly in the green.
Utilities brought up the rear once again.
Five-Day Sector Performance
Being that it was the on sector to have a few good days last week, it was no surprise to see Energy finish on top.
Likewise for Utilities, no real surprises there.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Materials Select Sector SPDR (XLB)
Even though stocks look dead set on pushing lower, it may be more prudent to prepare for an impending rally.
The two sector ETFs that may be worth looking at above others might be the XLRE and XLB, based on Friday’s performance.
Good luck!
