Market Recap For April 19th, 2022
The S&P closed firmly above both 4400 and 4450, which would seem to signal higher prices to come.
The only thing that would change that forecast would be a complete reversal of yesterday’s gains.
Yesterday’s Sector Performance
Tuesday’s rally took Consumer Discretionary to the top of the market.
Energy went from top dog to the doghouse.
Five-Day Sector Performance
Consumer Discretionary also leads the weekly chart.
Healthcare is still at the bottom of the market over the past week.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Healthcare Select Sector SPDR (XLV)
Markets sent a message on Tuesday that the rally had more to go. Assuming that holds up, the XLY may be the best ETF to look at for bullish trades.
In the meanwhile, the Healthcare driven XLV could be the best bet for bearish trading opportunities, at least for now.
Good luck!