ETF Sector Spotlight For 04/29/2022

Market Recap For April 29th, 2022

Friday was another bearish day for the market, as all major indices closed deeply in red. The week, as a whole, also finished badly.

The S&P and Nasdaq both took at major support lines, which should signal much lower prices are coming, eventually.

Yesterday’s Sector Performance

In a sea of red, Materials held up best, but that isn’t saying much.

Discretionary and Real Estate got hit the hardest.

Five-Day Sector Performance

Thanks in part to Friday, Materials ended up winning the week.

Not surprisingly, Discretionary was the clear laggard.

ETF Trade Watch

Real Estate Select Sector SPDR (XLRE)

Consumer Discretionary Select Sector SPDR (XLY)

The forecast is, and has been, for an ongoing bear market. Friday’s price action very much seemed to confirm that view.

If last week is any indication, lower market prices should hit ETFs like the XLY and XLRE the hardest.

Good luck!