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ETF Sector Spotlight For 04/29/2022

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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!

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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