Market Recap For December 15th, 2021
Stocks traded slightly lower to start the Wednesday session, but then slowly recovered up to the FOMC statement.
From there, stocks went into major rally mode, with the S&P getting back all of the losses incurred since Friday’s high.
Yesterday’s Sector Performance
Technology reversed in a big way yesterday.
Energy ended up as the only sector in the red.
Five-Day Sector Performance
Consumer Staples are still the leader over the past 5 days.
Consumer Discretionary finally moved off the bottom, replaced by Energy.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Healthcare Select Sector SPDR (XLV)
It’s hard to imagine yesterday’s rally not extending higher, although market reversals have been commonplace this year.
Assuming the rally has legs, the Healthcare XLV and Technology XLK may run to higher highs.
Good luck!