ETF Sector Spotlight For 06/28/2022

June 28, 2022

Market Recap For June 28th, 2022

For a market that appeared to be in rally mode, yesterday’s continuation from Monday was a relatively significant decline.

It can never be ruled out that the market is headed back to the lows, but there are key supports just below current prices that could reignite the rally.

Yesterday’s Sector Performance

Energy held the top spot once again and was the only sector in positive territory.

Discretionary found itself at the bottom for the second straight day.

Five-Day Sector Performance

Utilities have taken the top spot on the weekly.

Energy still sits at the bottom but will likely jump the chart soon.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Consumer Discretionary Select Sector SPDR (XLY)

Since it looks like oil has higher prices in mind, the XLE could find itself being in the green a few more times.

If lower market prices come, the XLY will get hit hard, especially if the decline takes stocks to new lows.

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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