Market Recap For October 5th, 2021
Once again, the market moved counter to the day before, and to what was expected, while also failing to firmly hold that move into the close.
If that trend holds into today, traders could see another big down day. On the other hand, all the positives discussed on Monday are still present today.
Yesterday’s Sector Performance
Finally, a sector other than Energy led the market, and that was Financials.
Real Estate was the only sector meaningfully in the red.
Five-Day Sector Performance
Energy is still on top, no surprises there.
Consumer Discretionary and Healthcare are together at the bottom of the week.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Communication Services Select Sector SPDR (XLC)
Energy is the clear leader over the past couple of weeks, but Communication Services looks to be making a move up the ranks.
If markets continue higher, Energy ETFs like the XOP and XLE are potential bullish plays, the XLC could also benefit during a rally nicely.
Good luck!