ETF Sector Spotlight For 10/01/2021
Market Recap For October 1st, 2021
For the 3rd straight day, markets opened in the green, and eventually fell into the red. However, this time the market was able to rally firmly into the green.
Friday’s close formed several bullish signals, including positive momentum divergence and positive non-confirmation between the Dow and S&P.
Yesterday’s Sector Performance
Most sectors found some green, with Energy leading, once again.
Although marginally, Utilities was the only sector in the red.
Five-Day Sector Performance
In what is zero surprise to our readers, Energy won the week.
Technology and Healthcare finished together at the bottom of the week.
ETF Trade Watch
SPDR S&P Oil & Exploration & Production (XOP)
Financials Select Sector SPDR (XLF)
Energy and Financials led to start last week, and the appear poised to take another leg up, if the market does.
Looking at both the XLF and XOP, traders can see that both ETFs are on the cusp of potential 52-week high breakouts.