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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.

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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