Sector Spotlight: 2 Sectors To Keep An Eye On
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Market Recap For November 15th, 2022
A bit of a surprise awaited traders when the market opened on Tuesday, as stocks popped instead of dropped, which seemed somewhat inevitable at Monday’s close.
Yesterday’s close was much less convincing, either way. However, it’s worth noting that the S&P failed to hold 4K for the 3rd day in a row.
Yesterday’s Sector Performance
Communication Services finished on top with a 3-way tie for 2nd place.
Materials and Healthcare ended up finishing in the red.
Five-Day Sector Performance
Communication Services have also made their way up to the weekly leader.
Healthcare is barely hanging in the green.
ETF Trade Watch
Communication Services Select Sector SPDR (XLC)
Healthcare Select Sector SPDR (XLV)
Hard to say which way the market is moving, at least in the short run. Regardless, one thing is clear and that is Services is leading, which brings the XLC to the front.
If traders are more bearish on the coming move, Healthcare has been in the dumps, as has been the XLV.
Good luck!
