Market Recap For November 9th, 2021
In yesterday’s Spotlight we referenced the possibility of a pullback having started at Friday and Monday’s highs. Sure enough, markets declined on Tuesday.
However, a significant portion of the losses were recouped by the close, which begs the question of if that was it? Certainly possible, if not probable.
Yesterday’s Sector Performance
Utilities slightly edged out the win over Materials.
Consumer Discretionary finished at the bottom of the market again.
Five-Day Sector Performance
Materials have now distanced themselves a bit at the top of the week.
Utilities have been joined by Healthcare at the bottom.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Materials Select Sector SPDR (XLB)
The bullish tone left at yesterday’s close could very well see upside follow through today, and beyond.
If that scenario is the one to unfold, then the sector ETFs that have been leading the way as of late, the XLB and XLE, could continue to do so.
Good luck!