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Sector Spotlight: Which Sector Will Lead The Next Move?


Market Recap For November 17th, 2022

The NDX and S&P dropped below our previously cited supports right at yesterday’s market open but put the low in shortly thereafter.

Most of the rest of the day was spent recovering, ending with a bullish final hour that implies a higher start to today.

Yesterday’s Sector Performance

Even though stocks closed in the red, Technology found some green.

Utilities, the prior day’s leader, ended up right back at the bottom.

Five-Day Sector Performance

No change at the top of the week, Communication Services is still leading.

Real Estate is having a rough go over the past week.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Technology Select Sector SPDR (XLK)

It sure looks like the pullback from recent highs may be over. If so, Technology stocks and Communication Services should be the leaders.

As is usually the case, two of the top ETFs to look at to ride the potential rally would be the XLK and the XLC.

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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