Type to search

Wealthpop News

ETF Sector Spotlight For 05/04/2022


Market Recap For May 4th, 2022

The rally that started at the Monday low continued in a big way on Wednesday, as markets reacted favorably to the FOMC statement.

The Dow, S&P and Nasdaq all made ended firmly higher, and at key resistance points. Moves above those points will mean the rally is carrying onward.

Yesterday’s Sector Performance

Once again, Energy led the day.

Although in the green, Real Estate ended up at the bottom.

Five-Day Sector Performance

Energy is way ahead of the pack over the past week.

Real Estate remains at the bottom, as yesterday didn’t help.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Communication Services Select Sector SPDR (XLC)

There were many positive signs and signals at Monday’s low, which adds credence to the forecast for an extended rally.

Assuming yet another complete reversal doesn’t develop, ETFs such as the XLE and XLC should see strength.

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.

  • 1