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Sector Spotlight: Market Sells Off… Again


Market Recap For November 28th, 2022

The Monday after Thanksgiving week has historically leaned bearish. Even though Friday ended on a positive note, seasonality came calling.

If the breakdowns that occurred yesterday are to be trusted, it would not appear that the decline is over yet. S&P 3900 is key support.

Yesterday’s Sector Performance

Even though all sectors closed red, Staples help up best.

Real Estate and Energy struggled the most to start off the week.

Five-Day Sector Performance

Utilities are still on top of the week, follows by Staples.

Energy hasn’t moved as the sector is bringing up the rear.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Utilities Select Sector SPDR (XLU)

For the time being, the rally that started in mid-October is considered to still be in effect. However, important support lines are close to current levels.

Regardless, for now, Utilities and Staples are the top sectors. Traders looking to capitalize on that fact should take a look at the XLU and XLP.

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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