Market Recap For March 4th, 2022

Although the market has been pulling back over the past few days, the current forecast is still for a continuation of the rally off the 2/24 low.

The tougher question is how long last week’s pullback will last, but the S&P and Dow’s Friday price action may have signaled its already over.

Yesterday’s Sector Performance

As has been the case on most days lately, Energy led the day.

Financials and Technology ended up as the weakest performers.

Five-Day Sector Performance

In no real surprise, Energy was last week’s top performing sector.

Financials struggled most of the week, finishing at the bottom.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Financials Select Sector SPDR (XLF)

Oil seems unstoppable, but the run will end, at some point. Traders most decide if trying to ride an ETF like the XLE up a little higher is worth the risk.

If Friday’s move off the lows did not signal a return to the rally, expect Financials, and the XLF, to hit new sell-off lows.

Good luck!