Market Recap For February 28th, 2022
Monday started off lower, which isn’t too surprising after the great one-two punch of the previous Thursday and Friday rally.
Most of the day’s losses were recovered by day’s end, with the major indices finishing overall mixed. An ongoing rally should still be in force.
Yesterday’s Sector Performance
Thanks to oil’s big day, Energy was the runaway winner of the day.
Financials and Real Estate ended up at the bottom.
Five-Day Sector Performance
Energy’s start to the week bumped the sector to the top of the week.
Consumer Staples and Financials are currently the weakest sectors.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Utilities Select Sector SPDR (XLU)
In bear markets, which stocks may be in, false rallies and fake outs will occur. All signs, however, still imply higher market prices to come.
Leadership has jumped around, but the current market leaders are Real Estate and Energy. If that continues, the XLE and XLU should run higher.
Good luck!