Market Recap For February 14th, 2022
Markets entered the week appearing as if they might follow through on the previous Friday’s decline. Sure enough, stocks moved mostly lower.
Monday’s weakness was much more muted than Friday’s, which may mean the rally off the low will continue today.
Yesterday’s Sector Performance
Consumer Discretionary and Communication Services managed to end in the green.
Surprisingly, since oil finished higher, Energy stocks were hit the hardest.
Five-Day Sector Performance
Materials are now on top, thanks to Energy’s drop.
Real Estate has made its way to the bottom of the pack.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
SPDR Materials and Mining ETF (XME)
With the XLRE taking out January’s low, the ETF could be looking to test the September-October lows next.
In the face of a declining market, the materials and mining driven XME has plowed to new highs, which should mean another leg up is coming.
Good luck!