Type to search

Wealthpop News

ETF Sector Spotlight For 11/09/2021

Share

Market Recap For November 9th, 2021

In yesterday’s Spotlight we referenced the possibility of a pullback having started at Friday and Monday’s highs. Sure enough, markets declined on Tuesday.

However, a significant portion of the losses were recouped by the close, which begs the question of if that was it? Certainly possible, if not probable.

Yesterday’s Sector Performance

Utilities slightly edged out the win over Materials.

Consumer Discretionary finished at the bottom of the market again.

Five-Day Sector Performance

Materials have now distanced themselves a bit at the top of the week.

Utilities have been joined by Healthcare at the bottom.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Materials Select Sector SPDR (XLB)

The bullish tone left at yesterday’s close could very well see upside follow through today, and beyond.

If that scenario is the one to unfold, then the sector ETFs that have been leading the way as of late, the XLB and XLE, could continue to do so.

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.

  • 1