ETF Sector Spotlight For 04/12/2022
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Market Recap For April 12th, 2022
Although markets didn’t take the path that was expected, the lower move that was forecast ultimately played itself out.
Yesterday’s close ended bearishly, again. There are subtle signs of a possible low getting close, but traders are best to wait for one to actually form.
Yesterday’s Sector Performance
Back and forth Energy goes, yesterday ending up on top.
Financials did not perform as well.
Five-Day Sector Performance
Tuesday also helped Energy to get back on top of the weekly chart as well.
Technology and Services are taking the biggest hits over the past week.
ETF Trade Watch
United States Oil Fund (USO)
Technology Select Sector SPDR (XLK)
Oil moved through a key line of resistance on Tuesday, and that implies possible higher prices for crude, and in turn the USO.
With the market possible breaking even lower, it would appear the XLK is still one of the top bets for bearish traders.
Good luck!
