Market Recap For June 8th, 2022
Once again, markets remained within the confines of the consolidation that took hold 8 days ago. Green one day, red the next.
Traders would have to think that the break out of the current range is close, and it couldn’t come too soon.
Yesterday’s Sector Performance
Energy led for another day, as oil moved higher once again.
Real Estate fell to the bottom, followed by Materials.
Five-Day Sector Performance
Energy remains on top of the market, thanks to the continued rise of oil prices.
Real Estate is also on the bottom of the weekly chart.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Real Estate Select Sector SPDR (XLRE)
The nearly two-week long market consolidation has made short-term trading quite challenging, regardless of the security.
Traders choosing to try to profit on it might look at the XLE for bullish trades and the XLRE for bearish ones.
Good luck!