Sector Spotlight: Choppy Waters Ahead
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Market Recap For December 7th, 2022
Although markets closed slightly lower yesterday, the losses were small, and most stocks seemed to find green anyway.
The Nasdaq and S&P finished with the look of a security preparing to make a turn higher, as where the Dow left a slightly bearish look to it.
Yesterday’s Sector Performance
The more defensive names took center stage, although Utilities took a breather.
Services struggled the most, distancing itself at the bottom.
Five-Day Sector Performance
Utilities has been replaced by Healthcare, with Staples in 3rd. All defensive names.
Energy remains at the bottom of the weekly chart, but Discretionary is closing in.
ETF Trade Watch
Consumer Staples Select Sector SPDR (XLP)
Healthcare Select Sector SPDR (XLV)
Even if markets recover a bit, the overall trend should still be lower. As long as that remains the case, the defensive sectors will likely hold up better than most.
Yesterday highlighted the XLU, two additional ETFs to look at for trading opportunities could be the XLP and XLV.
Good luck!
