Market Recap For November 26th, 2021
Friday’s drop was unexpected by most, if not all, traders, but it was also news induced, which usually cannot be seen coming.
The decline did not appear to be over at Friday’s close, but this has been quite the resilient market for most of 2021.
Yesterday’s Sector Performance
Healthcare weathered Friday’s storm better than most.
Oil got hit hard as well, not surprisingly that Energy stocks hit bottom.
Five-Day Sector Performance
Utilities and Staples are outperforming the overall market.
Discretionary and Communication Services are together at the bottom.
ETF Trade Watch
Communication Services Select Sector SPDR (XLC)
Consumer Discretionary Select Sector SPDR (XLY)
There is no doubt that virtually every time the market appears to be on the precipice of a major drop, it turns right back around again.
However, that trend will not last forever, and if a bigger one happens to finally be underway, bearish plays are seemingly best placed on the XLY and XLC.
Good luck!