Market Recap For April 11th, 2022
Friday looked bearish at the close. The Nasdaq and Russell looked bad, and the S&P’s close wasn’t all that thrilling either.
As such, markets declined to start the week. Multiple levels were broken, across all major indices.
Yesterday’s Sector Performance
In what was otherwise a rough day, Industrials held their own.
Energy, once again, flipped its own script.
Five-Day Sector Performance
Healthcare took a step back, replaced by Consumer Staples.
Technology and Discretionary are still getting hammered.
ETF Trade Watch
Consumer Staples Select Sector SPDR (XLP)
Technology Select Sector SPDR (XLK)
Even though Healthcare took a step back, another defensive name, Consumer Staples, grabbed the baton. The XLP would be the way to play it.
With the market breaking down again, it would appear ETFs like the XLK and XLY will likely continue to take the bulk of the losses.
Good luck!