Summary of Content for the Week of Dec 21:
1. Week 51 major index performance;
2. Week 51 SPY sector index performance;
3. Major index weekly charts of Support and Resistance levels.
Wall Street ended its worst week in a decade with more bruising losses on Friday, as there are too many uncertainties right now: the partial shut-down on US government, firing of Fed Chairman by Mr. Trump, on-going US-China trade-war talks...
US stocks enter final week of the year on the brink of a bear market, so far DJI was down 17% from its peak, Nasdaq lost 22% and SPX lost 20% respectively from their peak this year. A loss of more than 20% was considered into a bear market. The widely watched market barometer SPX index closed just above its key support level 2400. All three indexes weekly candlesticks broken down their respective recent support levels and look very bearish, poised for further downside.
Of the 11 major SPY sectors, both Materials(XLB) and Utilities(XLU) dropped 5.3% for the week--least among the sectors, and Energy(XLE) dropped the most with 9.63% down. Fear index VIX rose to 30.11, highest since Feb 2018. Crude oil continued diving into new low 45.41-lowest since Jul 2017.
In Asia, major indexes may catch-up with Walls Street plunge coming week. STI's immediate support 3000, then this year low at 2955; HSI immediate support at 25000 then year low 24500; SSE's immediate support 2500 then year low at 2449 level.
Major indexes weekly performance and weekly charts as follow.
No comments:
Post a Comment