Weekly Stock Report 4/14

Overall, the market is starting to really slow down, especially in the previously really hot tech sector. Commodities are generally doing quite well despite everything else doing poorly.

IYC (Consumer Discretionary ETF): This is really starting to not look good. It tried to breakout late March but completely failed. Now it seems like the stock is breaking down. General market ETFs like QQQ and SPY are looking quite choppy, so many ETFs like consumer services are starting to move down.

IYK (Consumer Goods ETF): This looks absolutely terrible. It completely broke down, breaking the structure it was in. This thing looks terrible.

IYE (Energy ETF): This looks like it could break down. It closed below the 10-day moving average for the first time since January this Friday. It could regain the 10-day, or could continue moving down. Either way, the ETF is seemingly forming lower lows, and doesn't really look that good, especially taking the choppy market conditions into mind.

IYF (Financial ETF): This completely broke down this week. Large selling volume coupled with poor market conditions certainly doesn't look god for this ETF. It is completely below the 10, 20, and 50 day moving averages.

IYH (Healthcare ETF): Just like everything else, this completely broke down. In previous years, when this ETF was in similar conditions, one of two things happened. In the first example, the stock completely crashed (COVID). In the second, there was a light pullback that led to all-time highs. Either way, from a chart perspective, in the shorter term this ETF really doesn't look that great.

IYJ (Industrial ETF): This got clobbered on high volume. It's above the 50-day, so maybe it will bounce back up. Despite this poor performance, the Industrial sector does seem to be reacting to these poor market conditions better than most sectors thus far.

IYJ (Materials ETF): This ETF was doing the best compared to every other sector until Friday, when it completely dumped on relatively high volume. It really doesn't look good.

IYW (Technology ETF): This is by far the best sector. Despite extreme poor market conditions, the technology sector hasn't broken down at all, but instead has formed a base. Whether it breaks down or up will be the deciding factor as to the future of this ETF.

IYZ (Telecommunications ETF): This looks terrible, and completely broke down. Of all the sectors, this definitely looks the worst. On the other hand, it seems like the price could be nearing a potential bottom, as back in October is bounced up at around $20.

IDU (Utilities ETF): This doesn't look that bad. Although it looks like it could be breaking down, it is showing some levels of relative strength against the poor market conditions.