ETF Sector Spotlight For 09/22/2021

September 22, 2021

Market Recap For September 22nd, 2021

Stocks rallied right out of the gate yesterday, and this time gains were held, or at least most of them were. Some were lost towards day’s end.

Although traders should lean more bullish going into today, yesterday’s close wasn’t really awe inspiring.

Yesterday’s Sector Performance

Energy was the clear winner in yesterday’s trading.

Utilities struggled, as did Communication Services and Healthcare.

Five-Day Sector Performance

Real Estate is the current weekly leader but expect Energy to take over soon.

Materials are still the weakest sector of the past week.

ETF Trade Watch

Financials Select Sector SPDR (XLF)

Energy Select Sector SPDR (XLE)

At this juncture, forecasting the market’s next short-term direction is tough. If stocks continue higher today, Energy and Financials may take charge.

The XLE has resistance just above current levels, while the XLF did not end on a bullish note yesterday. Be cautious with both.

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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