Market Recap For February 11th, 2022
Thursday finished on a bearish note, so it was no real surprise that Friday saw a follow through to the downside.
Likewise, Friday’s decline was not only bearish, but key levels were taken out along the way. This week should start off lower.
Yesterday’s Sector Performance
Thanks to Russia-Ukraine tensions, Energy ended firmly in the green.
Technology and Discretionary stocks took the biggest hits.
Five-Day Sector Performance
Energy ended up winning the overall week as well.
Communication Services were the weakest sector by week’s end.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Communication Services Select Sector SPDR (XLC)
As the possibility of war looms, oil prices could push higher, and that means ETFs like the XLE may continue to hit new highs.
On the complete opposite side of the spectrum is Communication Services, which have now sent the XLC to new lows.
Good luck!