Wealthpop News

Sector Spotlight: Tech Earnings Are Looming

Christian Tharp October 25, 2022

Market Recap For October 25th, 2022

As stated in yesterday’s Spotlight, the S&P taking out the 3800 mark should lead to another leg up, and 3800 fell on Tuesday.

The market has had a nice 3-day run, so a pullback would not be a surprise. That being said, the S&P would seem to want to make it to the 3900 area soon.

Yesterday’s Sector Performance

Somewhat surprisingly, Real Estate popped big on Tuesday.

Energy underperformed the rest of the market.

Five-Day Sector Performance

Even with yesterday’s lackluster showing, Energy still sits on top of the week.

Utilities are now at the bottom, thanks to Real Estate’s Tuesday rally.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Real Estate Select Sector SPDR (XLRE)

After its terrible run lately, it’s hard to trust Real Estate’s pop yesterday. However, it’s possible that it is the start of a recovery, and the XLRE is a great way to play it.

The same could be said for the Communication Services sector, but if the market continues upward, the XLC should move up with it.

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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