Market Recap For April 18th, 2022
Expectations for the week were for a lower start. Major market indices did move lower on Monday, but most losses were recouped by day’s end.
As far as what that means for the upcoming days, it is hard to forecast. If the S&P can retake 4400, and the NDX 14K, the makings of a bigger rally could be underway.
Yesterday’s Sector Performance
Once again, Energy led the market.
Healthcare was weakest, followed by Consumer Staples.
Five-Day Sector Performance
No real surprise here, Energy is still on top of the week.
Healthcare, however, is now at the bottom of the market.
ETF Trade Watch
Energy Select Sector SPDR (XLE)
Healthcare Select Sector SPDR (XLV)
Same story as yesterday. Traders looking to go long in this market, should consider Energy as the current place to be, which means the XLE is worth a look.
On the flip side, Healthcare is clearly struggling as of late, so bearish traders might be interested in looking at the XLV.
Good luck!