Market Recap For April 8th, 2022
The past week or more has been somewhat difficult to forecast, thanks to the recent back and forth, and the mixed signals given by the indices.
Friday’s price action left a very bearish tone. The Nasdaq and Russell clearly look like declining further, while the S&P Dow may be setting up to follow their lead.
Yesterday’s Sector Performance
Energy has bounced back and forth, Friday taking it to the top again.
Technology took the brunt of Friday’s decline.
Five-Day Sector Performance
Healthcare had a good enough week to end up the winner.
Technology was followed by Discretionary at the bottom of the week.
ETF Trade Watch
Healthcare Select Sector SPDR (XLV)
Technology Select Sector SPDR (XLK)
Although the ETF seems to be a bit extended at this juncture, as long as Healthcare leads the way, the XLV will climb higher.
The market could very well start this week off on a bearish note, and if so, look for the XLK to fall more than most.
Good luck!