2 Red Hot Sectors To Add To Your Watchlist Now
By: Christian Tharp, CMT
ETF Trade Watch
As the market climbs higher, there are some sectors of the market that are still leading the charge higher. We have highlighted a few of those sectors, as well as some possible trades that could be made, that traders will want to pay close attention to as this week closes out. Two of those sectors that are on a tear are, the Financial Select Sector SPDR ETF (XLF) and VanEck Vectors Gold Miners ETF (GDX). Be sure to watch our video breakdown below to get all the insight for your next trade.
Financial Select Sector SPDR ETF (XLF)
After a more than 6% run up in the last month, the financials sector of the market has been moving in lock set with the rest of the market. Coupled with the continued interest rate hikes, investors and traders are both making their moves in this space. Increasing interest rates is typically looked at as favorable for some stocks that make up the financial ETF, XLF. Be sure to keep this sector on your watchlist as the market continues to push higher.
VanEck Vectors Gold Miners ETF (GDX)
Gold has been on a hot streak as well, outperforming SPY and most of the market. GDX has posted a 16% gain in the past month or so as the price of gold has risen significantly. Keep an eye on this sector as the long term outlook for the equities market continues to be…
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