ETF Sector Spotlight For 11/03/2021
November 3, 2021
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Market Recap For November 3rd, 2021
Markets were relatively subdued on Wednesday, up until the FOMC statement was released. Once that was out of the way, it was back to the usual.
Stocks have reached very overbought conditions, but that certainly doesn’t mean they can’t go higher. However, traders should be cautious for a pullback.
Yesterday’s Sector Performance
Consumer Discretionary jumped back to the top of the market.
Energy stock took some hits, as oil fell pretty hard.
Five-Day Sector Performance
Consumer Discretionary is still leading over the past week.
Energy now the only sector in the red.
ETF Trade Watch
Healthcare Select Sector SPDR (XLV)
Energy Select Sector SPDR (XLE)
Based on the XLV, it would seem that Healthcare stocks are set to reach previous highs, and possibly beyond.
Energy stocks had been on a stellar run, but the XLE looks like it may be trying to put in a short-term top.
Good luck!
