Market Recap For November 15th, 2021
Yesterday was an interesting day in that expectations were for a higher move, which happened, but gains were barely held.
The closes for the major indices created a mixed picture. It’s hard to forecast it, but the path since last Wednesday’s low has been higher.
Yesterday’s Sector Performance
Utilities jumped to the top, unsurprisingly when the market weakens.
Healthcare and Materials struggled.
Five-Day Sector Performance
Utilities are also now leading the weekly performance.
Consumer Discretionary is still the weekly loser.
ETF Trade Watch
Utilities Select Sector SPDR (XLU)
Consumer Discretionary Select Sector SPDR (XLY)
If markets continue to higher, overall, then the leaders prior to yesterday will likely lead moving forward. If not, Utilities likely will, and Discretionary might struggle.
So, in an environment where market decline instead, look for the XLU to possible head higher, while the XLY falls further.
Good luck!