Market Recap For March 23rd, 2022
Caution has been advised over the past few days of the market rally. Yesterday demonstrated why there was a concern. All rallies end, eventually.
After the run the market has been on, an extension of the pullback would seem to be in order. Multiple levels failed to hold up yesterday.
Yesterday’s Sector Performance
Energy rebounded from Tuesday, extending the rally that started on Monday.
Financials took the biggest hits, followed by Healthcare.
Five-Day Sector Performance
Energy is now back at the top of the market, dethroning Consumer Discretionary.
Real Estate is barely in the green over the past trading week.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Energy Select Sector SPDR (XLE)
With the market looking as if it will decline further, the XLRE may be one of the better ETFs to analyze for bearish trading opportunities.
Energy looked as if it was out of gas on Tuesday but rebounded nicely on Wednesday. This may mean the XLE has more highs left in it.
Good luck!