Sector Spotlight: Keep An Eye On These 2 Popular Sectors
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Market Recap For December 8th, 2022
As suggested in yesterday’s Spotlight, markets made the turn higher on Thursday, even if they failed to follow through much after the initial open.
Thursday’s close didn’t leave much conviction for the bulls or bears, but the larger degree move still points towards lower prices.
Yesterday’s Sector Performance
When given the chance, Technology commonly moves to the top of bullish markets.
Services remained at the bottom for the 2nd day.
Five-Day Sector Performance
Healthcare is now the only sector in the green over the past week.
Energy still sits where it has been all week, which is at the bottom.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
SPDR S&P Oil & Gas Exploration & Production (XOP)
Today’s move looks like it could go either way. If it’s a bullish day, the XLK should perform well, but the move will likely be short-lived.
A move that hasn’t been short-lived is that of oil’s decline, and it turn Energy, and ETFs such as the XOP.
Good luck!
