Market Recap For April 20th, 2022
Tough day yesterday. All signs seemed to point higher after Tuesday’s rally, but it didn’t exactly turn out that way.
The Dow finished in the green, but both the Nasdaq 100 and Composite ended the day with quite the bearish look.
Yesterday’s Sector Performance
All the defensive sectors rose to the stop, starting with Real Estate.
Services got clobbered, Discretionary was a distant 2nd worst.
Five-Day Sector Performance
Wednesday’s performance pushed Real Estate to the top of the weekly.
Services is now the only sector in the red.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Communication Services Select Sector SPDR (XLC)
Thanks in part to yesterday’s big move, the XLRE has the look of an ETF that may make a run towards its 52-week high.
Looking the complete opposite of the XLRE, the XLC appears to be headed towards it 52-week low, and possibly lower.
Good luck!