Are You Watching These Sectors?
By: Christian Tharp, CMT
The market hit a bit of a speed bump last week, but it could very well just be a healthy pull back before pushing higher. It is important to remember that markets do not just travel in straight lines up or down, there are often pullbacks and retests along the way. As the week plays out, we should get a better sense of what the market will do next.
SPDR S&P Retail ETF (XRT)
Looking at the past week, Retail had a 7% run as the consumer still continues to hold strong. Keep an eye on this sector to see if there is more juice left as consumer spending continues to be hot. If you are someone who would rather trade the individual names in the ETF, look for those with the strongest performance and be patient, waiting for a good entry, possibly on a pullback.
SPDR S&P Homebuilders ETF (XHB)
Homebuilders also posted a strong week last week. As builders scramble to get inventories to an acceptable level, keep an eye on this sector to…
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