Sector Spotlight: The Roller Coaster Continues
Market Recap For October 4th, 2022
Tuesday came and went as expected, which was with higher prices. Major indices finished around 3 percent higher on the day.
Even though the rally still seems like it has more in the tank, traders should be prepared for a possible pullback closing in.
Yesterday’s Sector Performance
Energy led the way, once again.
Staples performed well but underperformed all other sectors.
Five-Day Sector Performance
Energy also sits on top of the week, to no surprise.
Utilities is barely hanging on to green at this stage.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Financials Select Sector SPDR (XLF)
As long as oil keeps running higher, and the stock market with it, the XLE will likely be one of the top performers.
Financials have also been moving up the ranks, and the XLF’s recent pop could have much more room to run.