Market Recap For May 12th, 2022

As has commonly been the case lately, markets waffled from down to firmly in the green to solidly in the red. Days have been riddled with back and forth.

However, when it’s all said and done, the direction has remained lower. Yesterday’s close was a positive one, but can it follow through today?

Yesterday’s Sector Performance

It’s been quite some time since Healthcare has led the market.

Utilities, which had been a leader, fell into the red.

Five-Day Sector Performance

Thursday’s decline by Utilities allowed Staples to move to the top again.

Discretionary, however, is still at the bottom, along with Tech and Real Estate.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Healthcare Select Sector SPDR (XLV)

Whether the market declines, or rallies, Technology moves. This is why the XLK should be on traders’ radars regardless of direction.

In the meanwhile, seeing Healthcare move to the top of the pack could be a sign of things to come. The XLV is the ETF to watch.

Good luck!