Market Recap For November 30th, 2022
What a difference a day makes. The first two days to start this week were less than thrilling down days, but yesterday completely changed that tune.
The major indices closed at the high of the day, which implies there might be more upside to go. However, today is seasonally a bearish day.
Yesterday’s Sector Performance
All sectors ended up in the green, but none more than Technology.
Energy stock brought up the rear, albeit still in the positive.
Five-Day Sector Performance
Discretionary stocks are still on top of the market, just ahead of Services.
Even after Wednesday, Energy stocks are in the red this week.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Communication Services Select Sector SPDR (XLC)
On both the one-day and five-day performance charts, Services and Discretionary are two of the leaders. Any additional rally should continue that leadership trend.
The XLC and XLY performed as well as traders might expect during yesterday’s rally but beware of a possible pullback before heading higher.