Market Recap For March 17th, 2022

As expected, markets moved higher on Thursday. Although they started off in the red, it was only a matter of time before stocks found green.

And again, the day ended on a bullish note, which would lead traders to believe today will also see an extension of the rally.

Yesterday’s Sector Performance

Energy finally rebounded from its recent slump.

Utilities was the top under performer, albeit still in the green.

Five-Day Sector Performance

Financials have taken the lead from Discretionary over the past week.

Energy is still at the bottom, but yesterday’s performance could help.

ETF Trade Watch

Financial Select Sector SPDR (XLF)

Energy Select Sector SPDR (XLE)

The current leader of the rally has been Financials, so if the rally continues the XLF could rebound even further.

Energy has been doing its own thing as of late, so with the sector appearing to have turned the corner, look for the XLE to possibly climb.

Good luck!