ETF Sector Spotlight For 06/30/2022

June 30, 2022

Market Recap For June 30th, 2022

Thursday’s trading started off lower, but the major indices battled their way back, with the S&P briefly touching green.

However, stocks rolled back over again, finishing in the red. The close was indecisive, but the S&P’s failure to hold 3800 isn’t a good thing.

Yesterday’s Sector Performance

Utilities was the market leader, once again.

As oil drops, Energy stocks take the hits.

Five-Day Sector Performance

Utilities are still leading the weekly performance chart.

Discretionary, Services and Tech are now together at the bottom, not surprisingly.

ETF Trade Watch

Utilities Select Sector SPDR (XLU)

Consumer Discretionary Select Sector SPDR (XLY)

Thursday’s daily bar ended indecisively. There are reasons to be bullish, and slightly more reasons to be bearish going into the day.

What is known for sure is that Utilities are outperforming, and Discretionary is underperforming. The XLU and XLY could be worth a look.

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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