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ETF Sector Spotlight For 10/06/2021

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Market Recap For October 6th, 2021

Sure enough, markets dropped to start off the Wednesday. However, we’ve stated that the market still holds a positive bias, and that played out by day’s end.

Yesterday’s close was a bullish one, and one that was in line with expectations. We would expect higher prices into week’s end, unless today sees another reversal.

Yesterday’s Sector Performance

Utilities led yesterday’s market.

Energy finally took a break, falling to the bottom of the market.

Five-Day Sector Performance

Energy mat have stalled yesterday, but the space still leads the week.

Healthcare is now alone at the bottom of the week.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Utilities Select Sector SPDR (XLU)

Energy is still leading over the past couple of weeks, and until that changes, XLE pullbacks should be looked at opportunities to get long.

Utilities seemingly came out of nowhere to lead the market, and that could mean that the XLU is ready to take a leg higher.

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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