Market Recap For June 1st, 2022
Although markets didn’t take a massive dive yesterday, they also failed to push higher, and instead formed a lower daily low.
Markets can consolidate however they see fit and could very well pop higher today, but Wednesday’s price action seemed to tilt the odds towards a lower resolution.
Yesterday’s Sector Performance
Energy stocks closed in the green, somehow.
Financials brought up the rear.
Five-Day Sector Performance
Discretionary still sits on top of the market, and it’s not really close.
Healthcare is still bringing up the rear.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
The market could be in the process of consolidating recent gains, in which case most ETFs will likely decline with it.
However, if the overall path is currently still higher, look for the XLY and XLK to be the top performers once the rally resumes.
Good luck!