Market Recap For February 15th, 2022

As anticipated, the rally that started at Monday’s low followed through on Tuesday, with all major indices finishing firmly in the green.

In addition to closing higher, and near their highs of the day, the NDX and S&P also regained key levels that were lost on Friday. The rally should continue.

Yesterday’s Sector Performance

Technology was the leader of the day, followed by Discretionary.

Energy stocks were hit hard, again, on Tuesday.

Five-Day Sector Performance

Materials are still on top, but Technology and Discretionary will likely catch up soon.

Utilities have replaced Real Estate as the weakest sector over the past trading week.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Technology Select Sector SPDR (XLK)

It would seem that stocks plan to move higher, to one extent or another. That’s where it gets challenging, however. How much higher?

As long as the rally pushes onward, Technology and Discretionary should lead the way, and that brings the XLK and XLY into focus for bullish trades.

Good luck!