Sector Spotlight: Market Breaks Out Of Its Range
Market Recap For November 22nd, 2022
After struggling to make and real headway, one way or the other, markets finally appear to have embarked on a real move.
With stocks pushing higher, and the S&P taking out 4K, the door would seem to be open for higher prices to follow.
Yesterday’s Sector Performance
Energy rebounded Tuesday to take the top spot in the market.
Real Estate was the weakest sector, but still ended up positive.
Five-Day Sector Performance
Consumer Staples are still leading the week, but that looks to change soon.
Discretionary is still at the bottom of the weekly.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Materials Select Sector SPDR (XLB)
Tuesday seems to have confirmed that another leg up in the rally from the October low is underway. How far that leg goes is another question all together.
Regardless, if Tuesday’s leaders continue to lead, the XLB and XLE should perform well over the coming days.