Market Recap For June 30th, 2022
Thursday’s trading started off lower, but the major indices battled their way back, with the S&P briefly touching green.
However, stocks rolled back over again, finishing in the red. The close was indecisive, but the S&P’s failure to hold 3800 isn’t a good thing.
Yesterday’s Sector Performance
Utilities was the market leader, once again.
As oil drops, Energy stocks take the hits.
Five-Day Sector Performance
Utilities are still leading the weekly performance chart.
Discretionary, Services and Tech are now together at the bottom, not surprisingly.
ETF Trade Watch
Utilities Select Sector SPDR (XLU)
Consumer Discretionary Select Sector SPDR (XLY)
Thursday’s daily bar ended indecisively. There are reasons to be bullish, and slightly more reasons to be bearish going into the day.
What is known for sure is that Utilities are outperforming, and Discretionary is underperforming. The XLU and XLY could be worth a look.
Good luck!