Market Recap For December 14th, 2022
Although the release of the FOMC statement yesterday created the typical intraday volatility, when it was all said and done it wasn’t a meaningful day.
Of course, Tuesday’s close was bearish, and Wednesday’s didn’t do much to alter that look. So, for now, traders should err on the side of lower, but with caution.
Yesterday’s Sector Performance
Healthcare snagged a small amount of green by the close of the day.
Financials finished up at the bottom.
Five-Day Sector Performance
Technology is still leading the week, now creating a little distance from the rest.
Financials are now on bottom, close to red area.
ETF Trade Watch
Financials Select Sector SPDR (XLF)
Technology Select Sector SPDR (XLK)
If markets are on the verge of declining further, Financials look like they’ll take the XLF lower than most others.
Markets could instead look to turn around and head higher, and the XLK will likely be towards the top of the leadership board.
Good luck!