Market Recap For July 7th, 2022
Wednesday’s pause gave way to another leg up in the current rally. All major indices, and most sectors, finished in the green.
Yesterday’s close was a solid one, which should lead to even higher prices today, assuming the monthly jobs report doesn’t have other plans.
Yesterday’s Sector Performance
Energy swapped places with Utilities, taking the top spot on Thursday.
Utilities ended up as the only sector in the red.
Five-Day Sector Performance
Discretionary is now the leading sector over the past week.
Energy is at the bottom of the week, but yesterday could mark a change.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Technology Select Sector SPDR (XLK)
If the market does push higher, it would seem that Technology, Services and Consumer Discretionary will perform best.
The most obvious ETFs to consider in that scenario would be the XLK, XLY or maybe even the XLC.
Good luck!