Market Recap For February 8th, 2022

Markets didn’t quite provide the clarity traders might have wanted, but the day clearly ended on a bullish note.

It would have been more convincing for the major indices to close a bit higher than current levels, but ultimately it does seem as if higher prices are coming.

Yesterday’s Sector Performance

Materials won the day, followed by Consumer Discretionary.

Energy is finally seeing some profit taking.

Five-Day Sector Performance

Financials have made their way to the top of the market

Communication Services are still having a very rough go of it.

ETF Trade Watch

Financials Select Sector SPDR (XLF)

Energy Select Sector SPDR (XLE)

Odds would appear to favor higher prices, and Financials have been on the move. A possible bullish play in the XLF could be worth a look.

Bearish plays are likely found in the Energy space, and as it pertains to ETFs, the XLE could be a good choice.

Good luck!