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ETF Sector Spotlight For 05/06/2022

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Market Recap For May 6th, 2022

Markets declined further on Friday, but the selling was much more tempered than what was seen on Thursday.

Although the path of least resistance, on multiple time scales, is lower, there are several small signs of bullishness appearing.

Yesterday’s Sector Performance

Energy remains a force in the market.

Discretionary, Services and Materials all finished together at the bottom of Friday’s market.

Five-Day Sector Performance

Energy ended last week leaps and bounds ahead of the rest of the market.

Real Estate and Discretionary competed for the bottom slot.

ETF Trade Watch

Energy Select Sector SPDR (XLE)

Real Estate Select Sector SPDR (XLRE)

There seems to be no end in sight for the rally in the Energy space. So, as long as it continues, look for the XLE to hit more highs.

Real estate has cleared struggled as of late, but if the market is finding a bottom of some kind, the XLRE’s Friday reversal could lead to a recovery rally.

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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