ETF Sector Spotlight For 03/03/2022

March 3, 2022

Market Recap For March 3rd, 2022

Once again, the market flipped the script, with all major indices finishing lower, the biggest being the Nasdaq.

Supports held but it has to be discouraging to the bulls that the markets were not really able to follow through on Wednesday’s gains.

Yesterday’s Sector Performance

Even with the broader market in the red, Utilities had a good day.

Consumer Discretionary names did not perform as well.

Five-Day Sector Performance

Energy is still the big performer over the past trading week.

Financials, Communication Services and Tech are barely in the green.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Technology Select Sector SPDR (XLK)

If that scenario does in fact unfold, Thursday’s underperformers will likely be today’s, and the means bearish plays might be considered on the XLY and XLK.

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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