Market Recap For June 22nd, 2022
Tuesday’s close was a higher one, but with a less than thrilling close, which bled into Wednesday’s start of trading. Markets moved into the green but failed to hold on.
Overall, yesterday was not terribly bullish. Combine that with yet another weak close and prices may be looking to decline today, and possibly beyond.
Yesterday’s Sector Performance
It’s been a while since Real Estate led the market, as it did on Wednesday.
Once again, Energy stocks were drilled hard.
Five-Day Sector Performance
Seemingly out of nowhere, Real Estate now leads the weekly as well.
Energy has not been able to catch a break for the past week or so.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Energy Select Sector SPDR (XLE)
Markets seem to be struggling to move higher, but regardless, the Real Estate driven XLRE has managed to perform very well lately.
On the other end of the spectrum, Energy has caused ETFs such as the XLE to decline down to important support areas.
Good luck!