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Wealthpop News

ETF Sector Spotlight For 05/02/2022


Market Recap For May 2nd, 2022

Lower prices were expected to start the week, and the market did move lower for a portion of the day. However, they ultimately ended up in the green.

Monday put in a nice price reversal from the lows. Stocks should move higher today, but the inability to hold gains has been commonplace over the past month or so.

Yesterday’s Sector Performance

After quite the rough stretch, Services bounced back this week.

Real Estate, however, continues to get hit hard.

Five-Day Sector Performance

Energy is now the lone sector in the green over the past week.

Real Estate has joined Discretionary at the bottom.

ETF Trade Watch

Real Estate Select Sector SPDR (XLRE)

Communication Services Select Sector SPDR (XLC)

If the market can follow through on a rally for the first time since March, that should help the XLC to recover more,

Regardless, rally or night, Real Estate has gotten drilled. If that continues, look for the XLRE to fall further.

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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