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Sector Spotlight: Jobs Numbers Loom Over The Market


Market Recap For October 6th, 2022

Thursday’s market was somewhat of a snoozer, all things being equal. However, when it was all said and done, stocks ended mostly lower.

Unless markets break down in a meaningful fashion, expectations are still for a higher move, overall.

Yesterday’s Sector Performance

Energy continued its winning streak to 4-0 this week as the market leader.

Utilities are the polar opposite, finishing at the bottom once again.

Five-Day Sector Performance

There is Energy, and then there’s all other sectors.

Utilities are still well into the red, yesterday didn’t help much.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Utilities Select Sector SPDR (XLU)

At some point, the trend will change, but for now oil keeps chugging higher. As long as the continues, look for the XLE to rally onward.

Likewise, Utilities have been stuck at the bottom, and as long as that persists, look for the XLU to fall even further.

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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