Market Recap For July 15th, 2022
Thursday’s turnaround left a very clear bullish tone which implied higher prices might be coming on Friday, and Friday delivered.
Similar to our Friday forecast, higher prices should come this week. Of course, traders should be prepared for pullbacks along the way.
Yesterday’s Sector Performance
Every sector finished in the green, with Financials leading the way.
The defensive Utilities and Staples brought up the rear.
Five-Day Sector Performance
Staples ended up winning the week, while also being the only one in the green.
Communication Services finished at the bottom.
ETF Trade Watch
Healthcare Select Sector SPDR (XLV)
Financials Select Sector SPDR (XLF)
Financials have had it just as rough as most other sectors this year, but Friday may be a sign that the XLF is making a turn.
Healthcare related stocks have been some of the top performers over the past few weeks, and the XLV looks like they may be turning higher once again.
Good luck!