Surprise Market, No Trade

In yesterday's analysis I mentioned that XLI, XLC, XLF would be positive sectors leading the day. From these, I selected XLI as my sector of focused and picked GE for today's trade.

The unexpected happened this morning, all the sectors underperformed as buyers pivoted to XLE and XLK after war noise, which is continuing tomorrow to an extent. Now, I will say, some sectors are recovering from today and starting to break the resistance and go green during late hour market shifts. As a result of what was observed today, I decided to not force any trades and to just sit in my hands.

Thinking back on today, I am very glad that I respected my 30 mins and tracked all the sectors for during that time. The discipline of not choosing something unless I am 100% confident in it helped me preserve my capital.

When looing at today's final performance, it does seem to guide me through my sector of focused. From the above I think the following will have a green performance day on July 8th:

• XLF – High trading volume, obliterated by sellers
• XLU – Intense selling pressure
• XLP – High selling pressre

I do think that there will be several green sectors, but the ones above will the ones I'll be looking at. Let's see what's in store tomorrow!