ETF Sector Spotlight For 07/05/2022

July 5, 2022

Market Recap For July 5th, 2022

Somewhat of a wild day yesterday, as the major indices fell around 2 percent right out of the gate, only to push higher all day long.

The past three days appear to be hammering out a pullback low, which should eventually lead to another recovery rally high.

Yesterday’s Sector Performance

Communication Services and Discretionary stocks ended firmly in the green.

Energy, and previous leader Utilities, struggled all day long.

Five-Day Sector Performance

Staples is the only sector close to getting back into the green.

Energy and Materials are the deepest in the red.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Consumer Discretionary Select Sector SPDR (XLY)

Even though the past three days have been quite the chop fest, most signs still point towards a higher move.

If that forecast holds up, then the sectors that led yesterday should lead again, and that favors the XLC and XLY.

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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