Index Weekly Wrap for the Week of Nov 2

Summary of Content for the Week of Nov 2:
1. US mid-term election on Nov 6;
2. Week 44 major index performance;
3. Week 44 SPY sector index performance;
4. October month major index performance;
5. Major index weekly charts of Support and Resistance levels.

World stocks rebounded this week, after a very bad Oct month. Well, historical statistics show stocks mostly performed poorly in Oct. (Refer to below table for major index performance in Oct month).
Next week will be a very important week as the US mid-term election will take place on 6 Nov Tuesday while Singapore market will be closed for public holiday. We should know the result on Wednesday, Nov 7 when market resumes trading. Do expect high volatility in stocks.

SPX and DJI rebounded back to their positive territory return YTD for the week. Refer to their weekly charts respectively, DJI ended closed above its major uptrend this week after dipped down below it intra-week; but SPX just bounced to the back of its major uptrend line and closed just below it.

Refer to below SPX daily chart(SPX.d), the first important Resistance level for SPX will be its 50% fib retracement at 2772(R1), that is also its 200dma resistance(green color MA). If the SPX were continue rebound above R1, then next target will be at 2812 level(R2), this level confluence with its horizontal resistance and its 50dma level.

Refer to below DJI daily chart(DJI.d), the first resistance will be 25536(R1) and then 25970(R2) should it continue rebound, it also confluence with its 50dma.

Refer to below daily chart for Nasdaq(Comp.d), first resistance is 7527(R1), which is also its 200dma level, 2nd resistance is 7670(R2), which also confluence with its horizontal resistance and 50dma, very important to watch.

Refer to below daily chart for HSI(HSI.d), the 1st importance fibo level is 27957(R1) should the market continue rebound, and 2nd is 29012(R2) which I think is unlikely. too far away...

As for Singapore market, STI next important resistance level is 3167-3200 level.