World stocks stablised a bit after last week bloodshed, except the SSE index continued dropped 2% more. By now, DJI and SPX just hovering around their major uptrend but the technology weighted Nasdaq index had broken below its major uptrend line established since 2016(refer to below weekly charts). US technology stocks appear weaker and leading the way drop. Coming week is important as there are many stocks will report their earnings.
Among SPY main sectors, Consumer Staples(XLP), Real Estate(XLRE) and Utilities(XLU) among top gainer and Consumer Discretionary(XLY) and Energy(XLE) are among the top losers.
In Asia, STI stalled just above 3050 for 2 weeks, next important support level to watch is 3000, HSI just above 25000 level support and SSE rebounded a bit after hitting its 4-yr low this week.
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