Market Recap For November 4th, 2021
The Nasdaq outperformed the other major indices, while the Russell and Dow both ended up finishing in the red.
If previous pauses in the current rally are any indication, yesterday likely just means more new highs are forthcoming.
Yesterday’s Sector Performance
Consumer Discretionary and Technology were the top performers yesterday.
Financials took the largest hits.
Five-Day Sector Performance
Consumer Discretionary is still leading over the past week.
Financials have now replaced Energy at the bottom of the week.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Consumer Discretionary Select Sector SPDR (XLY)
Markets, and sectors such as Technology and Consumer Discretionary, are clearly stretched, but they can certainly stretch farther.
If they can manage to keep going, it would appear that the XLY and XLK will end up doing the same.
Good luck!