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ETF Sector Spotlight For 10/04/2021

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Market Recap For October 4th, 2021

Friday had every sign one could ask for to expect higher prices this week. So, the fact that Friday’s runup was completely wiped out yesterday is definitely not bullish.

It’s always possible that the market is “pounding out a low”, but they’ve been dropping, overall, for almost a month, and the decline doesn’t look like it’s over.

Yesterday’s Sector Performance

Energy just keeps crushing it, and yesterday was no exception.

Communication Services and Technology were hit the hardest.

Five-Day Sector Performance

Energy is still the one thing that is clearly working.

Technology is not, but most sectors are in the red over the past week.

ETF Trade Watch

SPDR S&P Oil & Exploration & Production (XOP)

Technology Select Sector SPDR (XLK)

Energy doesn’t seem to ever want to stop running, so as long as it keeps going, look for trades in ETFs such as the XOP.

Technology is the space getting hit the hardest on declines. If the market does drop further bearish plays on the XLK could be considered.

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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