ETF Sector Spotlight For 03/22/2022

March 22, 2022

Market Recap For March 22nd, 2022

Market participants continue to be on guard for a pullback, but Tuesday was not to be the day the market rolled over.

Tuesday’s rally seems to have more upside to go, but key resistance marks sit just slightly overhead.

Yesterday’s Sector Performance

Discretionary had the best day, followed by Services.

Energy did not see follow through on Tuesday.

Five-Day Sector Performance

Discretionary is still leading the week, with Technology in 2nd.

Hard to believe any sector would be in the red over the past week, but Utilities almost is.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Energy Select Sector SPDR (XLE)

The rally that began at last Monday’s low continues upward, and as long as it does, the XLY appears to want to lead the way.

Energy’s failure to follow through on Monday’s rally may or may not mean anything, but traders might want to analyze it for trading opportunities either way.

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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