Market Recap For February 16th, 2022

It took all day to develop, but by the end of trading most of the major indices finished in the green, except for the Dow.

Once again, the Nasdaq, Russell and S&P held above key levels, but the Dow still couldn’t retake 35K.

Yesterday’s Sector Performance

Energy rebounded, pushing to the top of the market.

Communication Service and Technology ended up in the red.

Five-Day Sector Performance

Materials are still on top of the week, followed closely by Energy.

Utilities and Real Estate are the weakest sectors over the past trading week.

ETF Trade Watch

Materials Select Sector SPDR (XLB)

SPDR S&P Homebuilder ETF (XHB)

Materials stocks have been performing very well as of late, and that has allowed the XLB to rally. If markets extend higher, the XLB could do the same.

The homebuilder XHB ETF is currently hovering above key support at $70. A break of that mark could spell trouble for the ETF.

Good luck!