Sector Spotlight: 2 Sectors To Keep All Eyes On
Market Recap For October 5th, 2022
Yesterday’s Spotlight warned of a possible pullback getting close, and the market open pulled back right out of the gate.
But the bigger move is still expected to be a rally, and Wednesday’s recovery would seem to confirm that forecast.
Yesterday’s Sector Performance
Energy remained at the top of the market for a 3rd straight day.
Utilities finished at the bottom, followed by Real Estate.
Five-Day Sector Performance
As long as the sector wins the day, Energy will likely sit on top of the week.
Utilities are deep in the red, as is Consumer Discretionary.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Healthcare Select Sector SPDR (XLV)
Even though Energy is the clear leader this week, traders have to be at least a bit concerned about an inevitable pullback.
So, rather than Energy, the next sectors on deck yesterday were Technology and Healthcare. That puts the XLK and XLV in focus.