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ETF Sector Spotlight For 11/03/2021

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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!

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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