Market Recap For September 29th, 2021
Markets tried to rally out of the gate yesterday, but sure enough the bearish forces took over and stocks finished on their lows.
Once again, the day ended on a bearish note. Expectations are still for lower prices until a bullish reversal appears.
Yesterday’s Sector Performance
Utilities wrestled the lead position away from Energy.
Materials were the worst performing sector.
Five-Day Sector Performance
Energy still leads the past week, until another sector takes over.
Real Estate is the biggest underperformer over the past week.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Communication Services Select Sector SPDR (XLC)
Even though markets didn’t drop in a big way yesterday, they still look as if they are ready to continue lower.
If markets do continue their declines, the XLK Technology ETF and the XLC Communication Services ETF should be weaker than most.
Good luck!