Market Recap For November 17th, 2021
Markets struggled most of the day on Wednesday, and after battling back and forth, all the major indices finished in the red.
Although the Nasdaq and S&P do not look problematic for the bulls, the Dow and Russell do, especially the former.
Yesterday’s Sector Performance
Wednesday saw Real Estate finish just ahead of Consumer Discretionary stocks.
Energy was the biggest drag on the market.
Five-Day Sector Performance
Technology is still leading the week, followed by Discretionary.
Energy is at the bottom, but Financials are catching up.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Utilities Select Sector SPDR (XLU)
The overall market’s performance this week has been mixed, and that didn’t change on Wednesday. It could be that the market isn’t running back to new highs after all.
If that scenario is the one getting ready to unfold, traders should expect the XLU and XLRE to likely outperform the other major sector ETFs.
Good luck!