The short week was defined mainly by Thursday's sell-off in equities as Treasury bond yields were sliding. That gave a boost to two defensive sectors, Real Estate (XLRE) and Utilities (XLU), but the two sectors were already leading from Monday. The worries ended on Friday, but the two sectors remained in the lead for the week.
Technology (XLK) and Consumer Discretionary (XLY) were the next two sectors at the top of the list, showing a mix of risk-on and risk-off sentiment throughout the week.
The cyclical sectors moved from the top of the sector list on Wednesday to the bottom of the list on Thursday, back to the top of the list on Friday.
Energy (XLE) was a consistent loser throughout the week until finally finding itself at the top of the list on Friday. However, the gains were not enough to move it out of the bottom position for the week.
Technology (XLK) and Consumer Discretionary (XLY) were the next two sectors at the top of the list, showing a mix of risk-on and risk-off sentiment throughout the week.
The cyclical sectors moved from the top of the sector list on Wednesday to the bottom of the list on Thursday, back to the top of the list on Friday.
Energy (XLE) was a consistent loser throughout the week until finally finding itself at the top of the list on Friday. However, the gains were not enough to move it out of the bottom position for the week.
Comment:
Hi traders, if you like this type of update, check out the linked Daily Market Updates and my Market Week In Review.
