Market Recap For January 6th, 2022
Turns out, the selling wasn’t over, as suspected yesterday, and what was left of the decline could not be trusted. At least for now.
Yesterday’s pause could be in preparation for a move lower. It could also mean that the market’s decline is over, and another rally is ready to begin. Tough to say.
Yesterday’s Sector Performance
Energy, once again, was the strongest sector in the market.
Materials and Healthcare struggled again.
Five-Day Sector Performance
Energy’s run is unmatched by any other sector.
Healthcare, Technology and Real Estate are at the bottom.
ETF Trade Watch
Healthcare Select Sector SPDR (XLV)
Real Estate Select Sector SPDR (XLRE)
Due to uncertainty in the market’s next move, traders might just want to sit things out rather than choosing a side.
However, traders that believe that bears are still in control could take a look at the XLV and XLRE for possible opportunities.
Good luck!