Market Recap For April 5th, 2022
Monday’s market left a strong impression that the market’s rally was set to head even higher. Maybe it is, but not on Tuesday.
Yesterday is difficult to make much out of. Most major indices could simply be in the pullback mode of last week, while the Russell looks a bit more bearish.
Yesterday’s Sector Performance
Utilities was the only sector the closed meaningfully in the green.
Consumer Discretionary went from first to worst.
Five-Day Sector Performance
Utilities is the current weekly leader.
Financials is still on the bottom, with Industrials right behind.
ETF Trade Watch
Consumer Discretionary Select Sector SPDR (XLY)
Utilities Select Sector SPDR (XLU)
The market’s next move is tough to gauge, although moving at least a little lower seems probably. The XLU could be the safest bet out there.
The XLY is popping with rallies but getting hammered on declines. That makes it a worthwhile ETF to look at for traders, either way.
Good luck!