Market Recap For June 27th, 2022
As stated in yesterday’s spotlight, pullbacks were to be expected. Monday got the week started with one of those foreseen pullbacks.
Unless that was the end of the rally, which is always possible, higher market prices should be coming from here.
Yesterday’s Sector Performance
Energy finally crawled out of the cellar to lead the week off.
Discretionary and Services were the weaker sectors.
Five-Day Sector Performance
Healthcare is now on top of the market again.
Energy might still be at the bottom, but at least it is now in the green.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Healthcare Select Sector SPDR (XLV)
Although it may be too early to say the Energy rally is back on, it may be worth watching the XLE for bullish trading opportunities.
There is no doubt that over the past week or so, the XLV has benefited from the outperformance of the Healthcare space.
Good luck!