Market Recap For January 12th, 2022
Once again, markets adhered to our forecast and edged higher to start yesterday off, but most gains were lost by the close.
Wednesday could just be a pause before heading higher, or it could also be preparation for a resumption of the decline. Hard to say.
Yesterday’s Sector Performance
Materials haven’t led the market in quite some time, but they did yesterday.
Healthcare finished slightly in the red.
Five-Day Sector Performance
Same thing day after day, Energy is still the lead sector.
Utilities have now fallen into the cellar.
ETF Trade Watch
Materials Select Sector SPDR (XLB)
Utilities Select Sector SPDR (XLU)
Markets reached what appears to be an inflection point yesterday, so traders shouldn’t be surprised no matter what today brings.
If the event stocks run higher, the XLB may lead the way. On the downside, the XLU is the current laggard.
Good luck!