ETF Sector Spotlight For 03/24/2022

March 24, 2022

Market Recap For March 24th, 2022

Wednesday’s close was a bearish one, for sure. Expectations were for that bearishness to continue into Thursday, but the market had other plans.

Yesterday’s close was a bullish as Wednesday’s was bearish. The move appears to be upward, but will today bring another curve ball?

Yesterday’s Sector Performance

Technology jumped to the top of the market.

After one day at the top, Energy fell back to the bottom.

Five-Day Sector Performance

Energy is still the top of the market, but that likely won’t last long.

Real Estate is where it was yesterday, at the bottom, but now it’s also in the red.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Energy Select Sector SPDR (XLE)

The rally that started last Monday looks as if it is taking another leg higher, and if so, the XLK should take one with it.

The Energy run may be done for a while, or over all together. Either way, those interested in trading it should analyze the XLE.

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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