Market Recap For January 28th, 2022

Prices declined right out of the gate on Friday, but it seems as if the rally we’ve been expecting to take hold may have finally done so.

With the exception of the Russell, all major indices held last Monday’s lows and now look like they are ready to move higher.

Yesterday’s Sector Performance

As can be seen by the Nasdaq’s performance, Technology had a big day,

Energy stocks struggled, while ending up as the only sector in the red.

Five-Day Sector Performance

Energy ended up winning the week, to no real surprise.

Utilities and Industrials finished the final week of January at the bottom.

ETF Trade Watch

Communication Select Sector SPDR (XLC)

Technology Select Sector SPDR (XLK)

After last Monday’s apparent bottom, markets struggled to follow through. Friday appears to have delivered on that expectation.

Higher prices should be coming, and the XLK and XLC look like two of the ETFs that might benefit the most this week.

Good luck!