Market Recap For October 8th, 2021
Markets waffled back and forth yesterday while ultimately going nowhere in particular. The day certainly didn’t have a bullish feel to it.
After Thursday’s initial jump, the lack of follow through is puzzling. It brings the bullishness into question going into a week that is seasonally bullish.
Yesterday’s Sector Performance
As has been the case most days over the past 2 weeks, Energy won the day.
Real Estate had the roughest day, followed by Utilities.
Five-Day Sector Performance
In what is the least surprising thing to come out of this past week, Energy led.
Real Estate ended up squeaking out the downside win for the week.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Real Estate Select Sector SPDR (XLRE)
Energy continues to lead, and lead, and lead. At some point that will end, but until it does, the XLE will likely keep hitting new highs.
If the markets are falling back down, Real Estate may go down with it, and that means the XLRE may setup for bearish plays.
Good luck!