ETF Sector Spotlight For 02/03/2022

February 3, 2022

Market Recap For February 3rd, 2022

Yesterday’s Spotlight was a timely one in that it stated the possibility of an imminent turndown. Thursday clearly delivered.

Amazon lifted the entire market with its earnings, so today should start on an upbeat note. Where it goes from there is a tougher call to make.

Yesterday’s Sector Performance

It wasn’t much, but Consumer Staples stayed in the green yesterday.

Communication Services had a very rough day.

Five-Day Sector Performance

Technology is now the leader over the past week.

Industrials and Materials are now neck and neck at the bottom.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Industrials Select Sector SPDR (XLI)

If markets did make the turn yesterday, Technology will likely be a leader, and that brings the XLK back to the forefront.

However, if there is a rally, and it gets sold into, expect Industrials to remain weak and look for bearish plays on the XLI.

Good luck!

About The Author

Christian Tharp, CMT

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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