Market Recap For March 18th, 2022
Starting from this past Monday’s low, the market was relatively easy to forecast, and Friday was no exception. The rally pushed further.
Although there were no signs of exhaustion, yet, last week was a historic runup and a pullback will take hold at some point. Traders should be prepared for one soon.
Yesterday’s Sector Performance
Technology and Discretionary had another very good day.
Utilities, once again, did not.
Five-Day Sector Performance
Discretionary won the week, not surprisingly. Technology was next.
Energy struggled last week, which is normal after major rallies.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
Even though the rally should continue, a pullback has become increasingly more probable. In short, a better entry may require patience.
Whether the rally runs higher now, or later, two ETFs that should be on traders’ watchlists are the XLY and XLK.
Good luck!