Market Recap For April 21st, 2022
The major indices were up 1-2 percent right out of the gate on Thursday, seemingly ready to break overhead resistance levels.
Unfortunately for the bulls, those resistances held, and instead the market completely reversed to the downside.
Yesterday’s Sector Performance
Consumer Staples almost managed to stay in the green.
Even though oil was up, Energy stocks did not benefit at all.
Five-Day Sector Performance
Real Estate is still at the top of the weekly performance chart.
Services are even further behind the rest of the market than they were yesterday.
ETF Trade Watch
Real Estate Select Sector SPDR (XLRE)
Consumer Staples Select Sector SPDR (XLP)
Even though Real Estate is still the leader during the past trading week, the XLRE has the look of a security on the decline.
Similarly, Consumer Staples may be one of the outperformers, but the XLP’s price action yesterday looks very bearish
Good luck!