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Sector Spotlight: Another Bear Market Rally


Market Recap For December 5th, 2022

Coming into the week, several of the major indices had tested key resistance marks and were sitting just below them.

Monday saw the indices pull back from those resistances and close firmly in the red. The S&P now sits just above trendline support.

Yesterday’s Sector Performance

Defensive sectors moved to the top of the market, not surprisingly.

Energy and Discretionary stocks finished at the bottom.

Five-Day Sector Performance

Services are still leading, but that will change if stocks fall further.

Nothing has changed at the bottom of the week either. Energy still lags.

ETF Trade Watch

Utilities Select Sector SPDR (XLU)

Communication Services Select Sector SPDR (XLC)

The next day or so should reveal whether market resistance from last week wins, or market support, which was tested yesterday, wins.

If support fails to hold, look for the XLU to outperform. If stocks rally instead, the XLC should pick up where it left off last week.

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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