ETF Sector Spotlight For 04/22/2022
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Market Recap For April 22nd, 2022
To no surprise, Thursday’s decline continued into the end of the week. Nothing about Thursday’s close looked bullish, but to the contrary.
Similarly, Friday’s close ended just as bad, maybe even worse. Stocks should be set to head lower before any meaningful bounce might occur.
Yesterday’s Sector Performance
Consumer Staples led again, but this time wasn’t with as much outperformance.
Materials and Healthcare brought up the rear on Friday.
Five-Day Sector Performance
Real Estate finished at the top of the weekly performance chart, which isn’t saying much.
Services ended up a distant last, which is to none of our readers’ surprise.
ETF Trade Watch
Amplify Transformational Data Sharing ETF (BLOK)
Consumer Staples Select Sector SPDR (XLP)
There wouldn’t be too many reasons to want to be long anything right now, but Staples are holding up best. Maybe look at the XLP?
On the bearish side of things, one of the ETFs that has broken a noticeable support mark is the BLOK. Much lower prices should be coming.
Good luck!
