Market Recap For September 15th, 2021
The S&P came with points of its 50MA, and the Nasdaq tested 15K, and stocks rallied off the lows from there.
If the trend from over the past year holds up, the market should rally to new highs from current levels. However, no trend lasts forever.
Yesterday’s Sector Performance
Energy was the clear leader during yesterday’s rally.
Utilities ended up alone in the red.
Five-Day Sector Performance
Energy has distanced itself from the rest of the market.
Real Estate and Utilities have been under the most pressure during the past week.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Financial Select Sector SPDR (XLF)
Energy has seemingly caught fire again, with oil breaking key resistances, and that means the XLE’s move back above 50 could lead to higher prices.
Although Financials have not led the way very often lately, they are the only other sector in the green over the past week. Traders could take a look at the XLF.