ETF Sector Spotlight For 04/06/2022
April 6, 2022
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Market Recap For April 6th, 2022
Sure enough, markets followed the Russell’s suit and continued lower on Wednesday. The S&P and Dow held up better than most.
Yesterday’s close was mostly inconclusive. Next level supports held, but the rally off of them was muted.
Yesterday’s Sector Performance
Utilities led the market, once again.
Consumer Discretionary was also a repeat performer, but at the bottom.
Five-Day Sector Performance
No change here either, with Utilities still the current weekly leader.
Technology stocks have made their way to the bottom.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Utilities Select Sector SPDR (XLU)
The XLU keeps ripping higher, and although it may have more juice in it, traders should be cautious with bullish plays.
Like Discretionary, Tech tends to perform best when markets rally, but worst when they dell off. Either way, the XLK is worth a look.
Good luck!
