ETF Sector Spotlight For 03/02/2022

March 2, 2022

Market Recap For March 2nd, 2022

The lines in the sand appear to have been drawn regarding support. The S&P has held 4300, while the NDX has held 14K, and the Russell its 2K.

Now, resistance has come into play at S&P 4400 and Dow 34K. If the market can manage to push through those, the next leg of the rally should be confirmed.

Yesterday’s Sector Performance

Financials bounced back nicely, as Materials and Energy also performed well.

Communication Services, underperformed, albeit still finishing in the green.

Five-Day Sector Performance

Energy is still the runaway winner from the past trading week.

Financials are still lagging, but yesterday’s performance could change things.

ETF Trade Watch

Materials Select Sector SPDR (XLB)

Financials Select Sector SPDR (XLF)

Wednesday completely reversed Tuesday’s drop, and unless today brings another reversal, expect higher prices.

Two sector ETFs that may benefit the most might be the Materials XLB and the recovering Financials XLF.

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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