Market Recap For July 9th, 2022
Friday’s market action was somewhat of a snoozer after the typical opening volatility. In the end, stocks ended up mostly flat.
The trajectory is still higher, but it is important to remember this is an ongoing bear market until further notice.
Yesterday’s Sector Performance
Healthcare was the only sector meaningfully in the green.
Materials underperformed the overall market.
Five-Day Sector Performance
The winner of the week was Consumer Discretionary.
Although it clawed back a little, at week’s end, Energy finished at the bottom.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Healthcare Select Sector SPDR (XLV)
If the market does push higher to start off this week, Discretionary is what worked last week, so the XLY could work this week.
Healthcare performed well on Friday, but the price action of the corresponding XLV finished with a somewhat bearish look.
Good luck!