Market Recap For December 1st, 2021
As stated in yesterday’s Spotlight, Tuesday’s selling did not appear to be over. Sure enough, it wasn’t. Markets ended up failing to hold an early day rally.
Once again, the decline does not appear to be over. In addition, multiple levels of support were taken out yesterday.
Yesterday’s Sector Performance
Utilities squeaked out a small gain, the only sector to do so.
Communication Services finished at the bottom once again.
Five-Day Sector Performance
All sectors are now in the red, with Technology holding up best.
Industrials and Financials are both down 6 percent in the past trading week.
ETF Trade Watch
Industrial Select Sector SPDR (XLI)
Financial Select Sector SPDR (XLF)
Markets looked worse yesterday than they did the day before. So, there is every reason to believe lower lows are coming.
ETFs such as the XLI and XLF represent the two sectors that have struggled the most during the market pullback. They will likely struggle further if the decline extends.
Good luck!