ETF Sector Spotlight For 02/22/2022

February 22, 2022

Market Recap For February 22nd, 2022

Markets have made it down to the January lows, with the NDX testing the literal low point and finding support. The S&P dipped below 4300 before holding just above it.

The major indices keep attempting to hold key marks, but in the end, they have not been able to for more than a day. Will yesterday be different?

Yesterday’s Sector Performance

Utilities almost managed to finish in the green.

Consumer Discretionary stocks ended up deep in the red, way more than others.

Five-Day Sector Performance

Consumer Staples are still on top of the overall market, at least for now.

Yesterday was enough to send the Consumer Discretionary names to the bottom.

ETF Trade Watch

Consumer Staples Select Sector SPDR (XLP)

Consumer Discretionary Select Sector SPDR (XLY)

With the S&P sitting at major support, today could make or break the bulls. If the benchmark can gain lift off, the market leadership could change.

Until then, Consumer Staples have been strongest, with makes the XLP enticing. The Discretionary XLY has been profitable for bearish traders.

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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