![\"Technical](\"https:\/\/blog.invest-safely.com\/wp-content\/uploads\/2025\/04\/2025-04-20-spx_trendline_analysis-daily.png?w=640\")
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SPX Price & Volume Chart for Apr 20 2025<\/p>\n<\/div>\n
All three technical indicators ( ADX, OBV, and Institutional Activity )<\/em> remain in bearish territory.<\/p>\n![\"Weekly](\"https:\/\/blog.invest-safely.com\/wp-content\/uploads\/2025\/04\/2025-04-20-sector_performance_analysis.png?w=640\")
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S&P Sector Performance for Week 17 of 2025<\/p>\n<\/div>\n
Energy was the best sector last week, with Real Estate not far behind.\u00a0 Consumer Discretionary was the worst performer.\u00a0 Consumer Staples is the first sector to return to a bullish bias, while Utilities improved to neutral.<\/p>\n
![\"Weekly](\"https:\/\/blog.invest-safely.com\/wp-content\/uploads\/2025\/04\/2025-04-20-style_performance_analysis.png?w=640\")
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Sector Style Performance for Week 17 of 2025<\/p>\n<\/div>\n
High Dividend was the best performing style last week; Large Cap Growth the worst.\u00a0 Low Beta shifted from bearish to neutral.<\/p>\n
![\"Weekly](\"https:\/\/blog.invest-safely.com\/wp-content\/uploads\/2025\/04\/2025-04-20-asset_class_performance.png?w=640\")
<\/p>\n
Asset Class Performance for Week 17 2025<\/p>\n<\/div>\n
All asset classes performed well last week as the U.S. dollar continues to fall.\u00a0 Bitcoin and Oil outperformed.\u00a0 Bonds shifted to neutral from bearish.<\/p>\n
COMMENTARY<\/strong><\/span>
A relatively quiet week, compared to the rest of April, with only one day of headline induced volatility.\u00a0 As volatility recedes, don\u2019t be surprised if some of the safety trades also ease a bit as well.\u00a0 Gold is up 25% since turning bullish bias, so now is a great time to lock in some of the gains.<\/p>\nU.S. Federal Reserve Chair Jerome Powell spoke at the Economic Club of Chicago on Wednesday, acknowledging that the U.S. economy has slowed, but not enough to warrant any action by the FOMC.\u00a0 He expressed concern about uncertainty from the recent tariff announcements, and stated that the Fed would act if inflation materialized. To market participants, that sounded more like rate hikes than rate cuts.<\/p>\n
Perhaps more impactful was Powell\u2019s response to questions about the \u201cFed put\u201d and whether the central bank would step in if markets plummet. Powell said \u201cno\u201d and then stated that \u201cMarkets are struggling with a lot of uncertainty and that means volatility. But having said that, markets are functioning\u2026They\u2019re orderly and they\u2019re functioning just about as you would expect them to function.\u201d (1)<\/p>\n
Best to Your Week!<\/p>\n
P.S. If you find this research helpful, please tell a friend.
If you don\u2019t, tell an enemy.<\/em><\/strong><\/p>\n