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Sector Spotlight: Market Is Largely Range Bound


Market Recap For November 18th, 2022

Markets attempted to jump right out of the gate on Friday, only to immediately give up the gains and eventually fall briefly into the red.

By mi-day, however, stocks slowly started to recover, ultimately finishing the green, but not regaining the day’s highs.

Yesterday’s Sector Performance

Utilities had a very good day, compared to the overall market.

Energy stocks struggled again but ended up better than where they started the day.

Five-Day Sector Performance

Defensive sectors led the week, starting with Consumer Staples on top.

Discretionary ended up on bottom, with Energy not performing well either.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Utilities Select Sector SPDR (XLU)

The market’s close on Friday wasn’t terribly conclusive either way as to what to expect to start next week. However, Thanksgiving week does have a bullish bias.

As stated above, defensive sectors like Staples, Healthcare and Utilities are outperforming, so ETFs like the XLP and XLU could be worth a look.

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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