The image below comes from the Sector Carpet. First, notice that all sectors are lower. Second, notice that the Basic Materials SPDR (XLB), Energy SPDR (XLE) and Technology SPDR (XLK) have the most red. The Consumer Discretionary SPDR (XLY) is not far behind. Third, notice that the defensive sectors (XLU, XLP, XLV) are holding up the best because they have the smallest losses.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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