Market Recap For August 19th, 2022

Thursday was not a very informative day in the market, but there were subtle hints of bearish towards the end. Friday confirmed that those weren’t just hints.

The decline that started on Tuesday didn’t look complete at Friday’s close, which means lower prices will likely start the week.

Yesterday’s Sector Performance

Healthcare and Energy squeaked out a little green on Friday.

Discretionary edged out Financials for worst performer of the day.

Five-Day Sector Performance

Consumer Staples ended up winning the week, to no real surprise.

Communication Services finished at the bottom of the week.

ETF Trade Watch

Consumer Discretionary Select Sector SPDR (XLY)

Communication Services Select Sector SPDR (XLC)

Markets seem set for profit taking. For now, it seems more like a pullback before heading higher, but yes, it could be the start of the next leg of the bear market.

Either way, bearish plays may be the way to go, and the XLY and XLC are two ideal candidates to consider.

Good luck!