Market Recap For September 13th, 2022

Rally or no rally on Tuesday, expectations were for the market to eventually roll back over to the downside. Check.

For the S&P, the 3900 area was key to the rally that ended on Monday. It appears the benchmark is headed back down to the level, but this time it may not hold.

Yesterday’s Sector Performance

On a 4 percent down day, not much is going to look good.

The biggest hits were taken by the usual Discretionary, Technology and Services.

Five-Day Sector Performance

Materials is performing best over the past week, but yesterday wasn’t great.

Thanks to yesterday, Services fell to the bottom.

ETF Trade Watch

Communication Services Select Sector SPDR (XLC)

Technology Select Sector SPDR (XLK)

Until there is a sign of some rally, it is probably best for traders not to try to go long the usual sector ETFS. Instead, short plays might be advised instead.

When markets get hit, Communication Services and Technology are commonly two of the laggards. Short plays on the XLC or XLK could be worth a look.

Good luck!