Market Recap For November 29th, 2022
Monday left a bearish tone to start the week, one that seemed poised to spill into Tuesday, which it did.
That being said, the decline was mild, and most losses were recouped by the end of the trading day. Today’s market should add more clarity to the forecast.
Yesterday’s Sector Performance
On a relatively blah kind of day, Real Estate performed well.
Technology and Utilities were the weakest.
Five-Day Sector Performance
Discretionary stocks have now made their way to the top of the market.
Technology has fallen to the bottom.
ETF Trade Watch
SPDR S&P Regional Banking ETF (KRE)
ProShares UltraPro Short QQQ (SQQQ))
As the market has rallied off of its October low, it’s worth noting that Financials, as measured by the KRE, have not confirmed the recent market high.
If stocks are preparing for a decline to new bear market lows, the SQQQ could be a great way to capitalize on the drop.