Heading into today’s open, the Nasdaq Composite (QQQ) closed at $716.43, down -0.46%, while the SPY finished at $769.35, a decline of -0.31%. The VIX currently reads 15.24, remaining within its recent 14.13-23.34 range, suggesting relatively stable near-term volatility despite geopolitical tensions surrounding Ukrainian grain exports.
This week we're leaning into Gold (GLD), Energy (XLE), and Healthcare/Defensive (XLV). Gold exhibits strong +10.1% one-month momentum *and* is trading above its 50-day trend, benefiting from safe-haven demand. Energy (XLE) also shows a robust +5.3% monthly gain—above its 50-day trend—and remains macro-favored given ongoing supply constraints. Finally, Healthcare/Defensive (XLV), with +5.3% one-month momentum and above its 50-day trend, offers a potential buffer against market uncertainty.
Last week’s sectors delivered varied results: Technology (XLK) returned -1.8%, Industrials (XLI) posted +2.7%, and Real Estate (VNQ) gained +0.9%. While Industrials outperformed, Technology lagged—a reminder that sector momentum is not guaranteed.
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