ETF Sector Spotlight For 11/10/2021
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Market Recap For November 10th, 2021
Stocks fell the most since the 3-week rally began back in October, which is not surprising considering the slight bearish signs that had developed this week.
Markets tried to rally a little at the end of the day, but not enough was mustered up to give any degree of confidence that the decline is over, even though it could be.
Yesterday’s Sector Performance
Utilities finished on top of the market once again.
Energy took the biggest hits of all yesterday.
Five-Day Sector Performance
Materials are still in the lead but expect Utilities to take over soon.
Healthcare, Financials and Consumer Discretionary have underperformed.
ETF Trade Watch
Utilities Select Sector SPDR (XLU)
Energy Select Sector SPDR (XLE)
The market looks weak, and likely to move lower in the short-term, although the larger bullish picture could re-exert itself any day.
Weakness over the past couple of days has favored the Utilities XLU ETF, while not doing the Energy XLE ETF any favors.
Good luck!
