The S&P/ASX 200 Index (ASX: XJO) is expected to drop further this morning.
Another day in the red would mark 7 consecutive days of falling for Australia's benchmark index.
That's after already hitting a three-week low yesterday.
Intriguingly, the Australian market has been moving south despite US equities holding near record highs.
Part of the puzzle is the higher oil prices, which usually feed into inflation.
With the market expected to lag again today, let's look at where opportunities may lie.
Image source: Getty Images
Healthcare still lagging
ASX healthcare stocks have been some of the worst-performing in 2026.
This has continued over the past week.
The S&P/ASX 200 Health Care Index (ASX: XHJ) is down 23% year to date.
This includes a 7% drop in the last 7 days of trading.
One noticeable decline has been 4DMedical Ltd (ASX: 4DX), which has dropped 8% in that period and 30% since mid-April.
This could be a buy-the-dip opportunity for a stock now down significantly from 52-week highs.
On the other end of the spectrum, healthcare giants Pro Medicus Ltd (ASX: PME) and CSL Ltd (ASX: CSL) remain well below yearly highs.
Bell Potter currently views CSL as a hold, although its $155 price target indicates 20% upside.
Meanwhile, Pro Medicus shares have attracted a buy rating from the team at Bromley.
Aussie tech pulls back
During the start of 2026, ASX technology shares were also down significantly.
The S&P/ASX All Technology Index (ASX: XTX) fell 27% from January until March 30.
Then, from March 30 until April 17, it rebounded more than 17%.
This has now reversed again over the last week.
Some major names that have also pulled back in this period include:
- WiseTech Global Ltd (ASX: WTC) shares are down 8% in the last 7 days
- Xero Ltd (ASX: XRO) shares are down almost 5% since April 21
- Technology One Ltd (ASX: TNE) shares have fallen 4.5%
For investors hoping for a long-term rebound for Aussie tech, a thematic ASX ETF to consider is Betashares S&P ASX Australian Technology ETF (ASX: ATEC).
It provides exposure to leading ASX-listed companies across a range of tech-related market segments, including information technology, consumer electronics, online retail, and medical technology.
How to target the ASX 200?
For investors who are more optimistic on a broader market recovery and less interested in targeting individual sectors, there are several ASX ETFs that target the benchmark index.
Some options include:
For slightly more diversification but still including the 200 largest companies:
