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ETF Sector Spotlight For 05/03/2022

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Market Recap For May 3rd, 2022

The major indices moved higher on Tuesday, in line with expectations. However, activity seemed somewhat muted compared to previous days.

With the Fed announcement coming today, markets may see volatility more reflective of recent moves.

Yesterday’s Sector Performance

Even though oil was down on the day, Energy stocks were certainly not.

Discretionary and Staples were the only sectors in the red.

Five-Day Sector Performance

Energy is still leading the trading week, followed by Technology.

Real Estate remains at the bottom, with Utilities a distant 2nd.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Technology Select Sector SPDR (XLK)

There are both positive signs and lingering negative ones in the market, at this juncture. The FOMC statement today should unlock the next move.

If that moves ends up being a higher one, Energy and Technology look poised to lead the way, and that brings the XLK and XLE to the forefront.

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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