Market Recap For January 11th, 2022
Right on cue, stocks followed through on Monday’s recovery to rally firmly into the green. All major indices finished higher.
All signs seem to be pointing towards the rally extending into today, but beyond that is a tougher forecast.
Yesterday’s Sector Performance
Energy continues to outperform its peers.
Utilities lagged noticeably yesterday.
Five-Day Sector Performance
Nothing changing anytime soon, Energy is still the lead sector.
Real Estate and Discretionary are together at the bottom over the past week.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Technology Select Sector SPDR (XLK)
Expectations are currently for a higher moving market, and in that scenario, Energy and Technology stocks could be the leaders.
Although the XLE is starting to look a bit extended, the technology driven XLK may just be getting started.
Good luck!