Market Recap For May 13th, 2022

Thursday’s closing stretch was a bullish one, so following through on Friday was not much of a surprise.

The market is overdue for a relief rally, but it’s hard to say whether or not the current one has legs, or will it be over almost as soon as it started.

Yesterday’s Sector Performance

Discretionary finally got a day in the sun.

Meanwhile, Healthcare’s day on top was short-lived.

Five-Day Sector Performance

Staples is still the only sector in the green, albeit barely.

Real Estate is the laggard, followed closely by Financials and Technology.

ETF Trade Watch

Technology Select Sector SPDR (XLK)

Consumer Discretionary Select Sector SPDR (XLY)

The bulls have control of the market, at least as of Friday. If they can keep it for a longer run, Technology and Consumer Discretionary will likely lead the way higher.

Two of the top ETFs to analyze for bullish trades, in the case where the above scenario unfolds, would be the XLY and XLK.

Good luck!