Weekly Memorandum 4/25/2022

Stocks closed out near the week's lows on Friday, which is hardly a bullish characteristic. Tech led the market lower again, an ominous sign, and the only sectors that finished in positive territory last week were consumer staples and real estate. This is a risk-off signal.

Interest rates are experiencing a relief decline, and this could finally be a flight-to-safety trade unfolding. Aside from the U.S. Dollar, pretty much everything else looks like garbage right now. Not an environment to be forcing trades - stay nimble.