Sector Spotlight: Where To Next?
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Market Recap For October 14th, 2022
As the saying goes, what a difference a day makes. As good as a reversal that Thursday looked, Friday looked almost equally as bad.
Although it’s possible that Friday’s decline is just a deep pullback before moving higher, it ended on a bearish note that looks likely to run into the start of this week.
Yesterday’s Sector Performance
All sectors closed in the red with Healthcare holding up best.
Energy and Discretionary stocks were hit the hardest.
Five-Day Sector Performance
Consumer Staples actually moved higher in what was otherwise a rough week.
Discretionary stocks also finished at the bottom of the weekly.
ETF Trade Watch
Healthcare Select Sector SPDR (XLV)
Consumer Staples Select Sector SPDR (XLP)
On both a daily scale, and a weekly one, defensive sectors are the out-performers in the most recent market environment.
With Consumer Staples and Healthcare being two of those defensive sectors, traders might want to take a look at the XLP and XLV.
Good luck!
