Market Recap For June 29th, 2022

Going into Wednesday’s trading, markets had already approached key supports, and those supports ended up holding.

As long as that remains the case, higher prices should be expected. However, a break of levels such as the S&P’s 3800 will likely mean lower prices are on deck.

Yesterday’s Sector Performance

Healthcare regained its spot at the top of the market.

As quickly as it jumped to the top, Energy fell right back to the bottom.

Five-Day Sector Performance

Utilities are still leading the weekly performance chart.

Energy still sits at the bottom, but barely.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Healthcare Select Sector SPDR (XLV)

Yesterday’s bounce in oil lasted into mid-day, but a reversal took hold quickly, and now it looks like the XLE may pay the price.

The XLV pulled back for a day or two, but Wednesday brought a turnaround that may have legs. Today will need to see some follow through first.

Good luck!