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ETF Sector Spotlight For 10/01/2021

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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.

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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