ETF Sector Spotlight For 05/19/2022
Market Recap For May 19th, 2022
Not much changed during yesterday’s trading. Markets started lower, pushed higher, and then back down again.
A case could be made for a move in either direction, but the short-term bearish setup that formed on the S&P points towards lower.
Yesterday’s Sector Performance
Materials notched a decent day in the green.
Consumer Staples took the biggest hits, once again.
Five-Day Sector Performance
Energy still leads the weekly chart, followed by Materials in distant 2nd.
Staples are still at the bottom of the trading week, way behind the pack.
ETF Trade Watch
Materials Select Sector SPDR (XLB)
Consumer Staples Select Sector SPDR (XLP)
Although it’s way too early to say Materials are ready to run, but yesterday could be the start of something, meaning the XLB is worth a watch.
Meanwhile, Consumer Staples struggled once again, albeit not as badly as they did on Wednesday. The XLP continues to decline.