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ETF Sector Spotlight For 10/29/2021

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Market Recap For October 29th, 2021

Disappointing earnings sent stocks lower right out of the gate on Friday, but the decline was short lived.

Friday’s close was a bullish one, and it implies that the start of this coming week will see a continuation of the rally.

Yesterday’s Sector Performance

Healthcare was the top performer on Friday.

Real Estate did not take part in the end of week rally.

Five-Day Sector Performance

Consumer Discretionary ended up winning the week.

Financials were not as lucky, finishing at the bottom.

ETF Trade Watch

Healthcare Select Sector SPDR (XLV)

Consumer Discretionary Select Sector SPDR (XLY)

Markets seem to be getting stretched, but that can go on for quite a while. If it does, it would seem Healthcare and Consumer Discretionary plan to lead the way.

When looking at the chart of XLY, it looks extended, but nothing says it can’t move even higher. The XLV may be making a move towards its all-time high.

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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