Growth sectors stole the show this week as investors put inflation worries aside and boosted Communications (XLC) and Technology (XLK) early in the week. The focus was on the growth sectors from Monday to Wednesday. Technology faded back in the list, buy Consumer Discretionary (XLY) joined Communications to end the week at the top of the list.
On Thursday, there was a rotation into cyclicals, bringing Industrials (XLI) higher in the list. Industrials ended the week in fourth place.
Friday brought out the defensive plays heading into a three-day weekend and the start of the summer months. That gave a boost to Real Estate (XLRE), Health Care (XLV), Utilities (XLU), and Consumer Staples (XLP). Real Estate (XLRE) ended in third place for the week, while Health Care and Utilities remained at the bottom two sectors for the week.
Hey Drewby, how do you make that chart where they all start the week at the same point? Thanks!
drewby4321
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@SwingTraderEd hi Ed, first add comparison symbols from the top toolbar (that’s the sectors in my chart). Then switch the chart to % instead of price. Make sure all scales are combined on the right. Then everything should start at 0% on the left and diverge from there. Then I just pan and zoom the chart until the farthest left point is 4p (close) on the previous day. I could do a quick video on this if it’d be easier.
SwingTraderEd
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@drewby4321, No that makes sense. Thank you for the great info!
drewby4321
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@SwingTraderEd you can also click the megaphone icon below my idea and choose “Make this chart my own” (something like that). That will copy the chart into your account.
SwingTraderEd
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@drewby4321, Wow that is a really cool feature I never knew about. Thanks again!