Market Recap For September 15th, 2022
Thursday wasn’t as informative as traders might have liked but breaching Wednesday’s lows would not be perceived as bullish.
The S&P managed to hold the 3900 mark, but a trendline break and inability to hold a rally wreaks of bearishness.
Yesterday’s Sector Performance
Healthcare and Financials were the only sectors to finish in the green.
Energy and Utilities brought up the rear.
Five-Day Sector Performance
Energy is still the only sector in the green.
And Real Estate is still at the bottom on the weekly chart as well.
ETF Trade Watch
Utilities Select Sector SPDR (XLU)
Real Estate Select Sector SPDR (XLRE)
Even though markets didn’t get hit like they did on Tuesday, sectors like Real Estate and Utilities did take some hits.
Since both sectors look like they have more downside coming, the XLRE and XLU might be the best short plays to look at.
Good luck!