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The Market Takes Off After FOMC, These Are The Sectors To Watch


ETF Trade Watch

Fed Chairman Jerome Powell announced yesterday that the Fed would raise interest rates another quarter percent. His press conference held after the announcement of the rate hike was another hawkish statement where he reaffirmed the Fed’s commitment to getting inflation down to their 2% target. Despite this hawkishness and raising of interest rates, which is normally not a very good sign for the economy, the market rocketed higher, giving some people pause over still calling this a bear market.

Let’s take a look at some sectors we should keep an eye on now that the market has found a little more push behind it.

Technology Select Sector SPDR ETF (XLK)

One obvious choice for a bull run in the market is one of our favorite sectors, Technology. When the market rises like it has done, it is often the Tech Sector that is carrying much of the weight. Names like Nvidia (NVDA), Microsoft (MSFT), and Meta Platforms (META), which rose over 20% in after hours and pre-market trading on the back of their earnings report. The is definitely a sector to keep on watch if the market decides to fly higher.

VanEck Gold Miners ETF (GDX)

Gold has found some solid footing over the past several months, trading below $1,700 back in November. Fat forward to today where the price of gold is just under $2,000 per ounce. This is good news for the gold ETF, GDX, which is a good options for those looking to gain exposure to the yellow metal and join in on the rally above and beyond that $2,000 mark. Be sure to check out the video below to confirm any levels you might have set for the ETF.

If you want more on these ETFs and countless others like it, you need to become a member of my Smart Trades options trading service. Not only will you get all my trades, but you’ll also be a part of a growing community of like-minded traders looking to learn and hone their options trading skills.

I look forward to trading with you, but until then, as always…

Good Luck!

Christian Tharp, CMT

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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