Sector Spotlight: Which Direction Will The Market Break?
Market Recap For November 21st, 2022
The past trading week has been one of the most lackluster stretches traders have seen in the entire duration of the bear market, thus far.
After hitting 4K a week and a half ago, the S&P has been stuck around the 3950 area every day. Hopefully, for trader’s sake, that trend breaks soon.
Yesterday’s Sector Performance
Most sectors found green, with Staples leading the way.
Discretionary stocks barley edged out Energy at the bottom.
Five-Day Sector Performance
Being that the led yesterday, Consumer Staples obviously remain on top.
Energy stock shave replaced Discretionary at the bottom of the weekly.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Consumer Discretionary Select Sector SPDR (XLY)
The market didn’t give analysts much to work with on Monday. The day was as slightly bearish as Friday was slightly bullish. Hard to decipher much.
What is known is that Energy and Discretionary have been the laggards on both the daily and weekly, and that brings the XLE and XLY to the forefront for trade setups.