ETF Sector Spotlight For 05/10/2022
Market Recap For May 10th, 2022
Tuesday saw stocks jump right out of the gate, and to virtually no one’s surprise the market sold into it, as it has done over and over again.
It was hard to gain much from yesterday’s price action, there were a few slight signs of a possible low taking hold. Hopefully today will add clarity.
Yesterday’s Sector Performance
It’s been a while since Technology has led the market.
Real Estate continues to struggle.
Five-Day Sector Performance
Utilities are still sitting atop the weekly chart.
Real Estate is now back at the bottom of the past trading week.
ETF Trade Watch
Technology Select Sector SPDR (XLK)
Real Estate Select Sector SPDR (XLRE)
Tuesday showed slight signs of a potential bottom being formed, and if that ends up being the case, the Technology driven XLK could benefit more than most.
On the other side of that equation would be a continuation of the current decline, and that would seem to send the XLRE even further down towards the low.