Market Recap For March 16th, 2022

Tuesday ended on a bullish note, as stated in yesterday’s Spotlight. Even though the market has been hard to have confidence in, Wednesday pushed higher, as expected.

Once again, yesterday finished with stocks in full bull mode at the close. The rally should extend into today, and maybe into week’s end.

Yesterday’s Sector Performance

Technology and Discretionary finished atop the market again.

Nothing changed at the bottom either, Energy is still stuck there.

Five-Day Sector Performance

The past could of days has pushed Discretionary to the top of the weekly.

Energy is still at the bottom here as well.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Energy Select Sector SPDR (XLE)

Markets do not appear to be done moving higher, and if that is in fact the case, look for the XLY to be one of the top performing ETFs.

Bearish plays may not be advisable at this stage, but for those traders looking to get short anyway, the XLE has been struggling.

Good luck!