Index Weekly Wrap for the Week of Jan 25

Summary of content for the week of Jan 25:

1. Week 4 major indexes performance;
2. Week 4 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks stalled this week, after 4 weeks up in a row, it looks like the bulls are running out of steam or just a pause for further upside. This coming week is very IMPORTANT to monitor, many companies will report earnings, it's a data-heavy week. It will be decided the trend will continue going up or turned down--which indicates the round of rebound is over. 

Among the 11 major sectors in the SPX, Real Estate(XLRE) was the top performer this week with 1.44% gain, and Energy(XLE) is the least performer with 1.43% loss. Refer to sector indexes performance in below table.

Notably, HSI index was very bullish for the week, broke out and hit its 3-month new high. It's weekly candles look bullish. On the other hand, STI index ended with 1st week down by profit-taking, after 4 weeks up in a row. But it still holding above 3200 support level so far. 

Index Weekly Wrap for the Week of Jan 18

Summary of content for the week of Jan 18:

1. Week 3 major indexes performance;
2. Week 3 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks continued rebound for 4th week in a row, the SPX spiked up 2.9% this week, closed above its Fibonacci 50% level, which means it has recovered more than half of its loss in its recent fall from high of 2940. The markets look more like driven by the expected good result from US-China trade negotiations, so I will still consider the stocks are in rebound mode in downtrend rather than the uptrend, I'd rather monitor and see how low is retreated to when it sells off. 

One notable change is the latest US PMI data for December dropped significant to 54.1 from November's 59.3, indicate slower down in the economy though still above 50 expansion/ contraction mark. We will have its Jan 2019 data in less than 2 weeks time. 

As for the US stocks main sectors, financials( XLF), and Industrials(XLI) led the rebound for this week, with 6.12% and 3.42% up respectively. The least performing sectors are Utilities(XLU) and Consumer Staples(XLP) with -0.17% and 1.59% change. The top and bottom sectors indicate investors turned to risk-on assets.

In Asia, major indexes rebounded in hope that China will have more stimulus measures coming out for its worse than expected economy. Shanghai SSE, HSI and STI added from 1.7% to 0.8%, STI appeared somewhat fatigued after 4-week up in a row. 

Index Weekly Wrap for the Week of Jan 11

Summary of content for the week of Jan 11:

1. Week 2 major indexes performance;
2. Week 2 US sector indexes performance;
3. Major indexes weekly charts pf support and resistance levels.

US stocks have recovered all its loss now--3rd week after the panic selloff week which spooked global investors. The recovery has been fast and unexpectedly strong. While this week SPX candlestick looks very bullish and the index certainly wants to go higher coming week, do look out for overhead resistance at 2640--the 50% Fibonacci level for the period from recent high 2940 to low 2346. Refer to below major indexes weekly performance table and charts.

US 11 major sector indexes all went up this week. The industrials (XLI) and Real Estate(XLRE) added the most with 4.17% and 4% respectively; Consumer Staples(XLP) and Utilities(XLU) added the least with 0.72% and 0.87% respectively. Refer to below sector indexes weekly performance.

In Asia, STI and HSI were the top gainers with 4.6% and 4.1% respectively, but SSE looked still in the doldrums, a laggard with 1.6% up this week. STI continue shows resilience and strength, nest major level of resistance is 3260 if it can break out immediate resistance 3200.

Index Weekly Wrap for the Week of Jan 4

Summary of Content for the Week of Jan 4:

1. Major indexes performance for the year 2018;

2. SPY sector indexes performance  for the year 2018;

3. Week 1 major indexes performance;

4. Week 1 SPY sector indexes performance;

5. Major indexes weekly charts of Support and Resistance levels.

Happy new year 2019. For the past year 2018, all world major stocks indexes suffered losses. US stocks performed relatively better than Asia peers, though the three major indexes all in red, Shanghai SSE index was the worst performer with 24.6% loss. Refer to below major indexes performance table for 2018. Among the 11 major US sectors, Energy(XLE) was the worst performer in 2018--lost 20.63%, as crude oil price plunged. The best sector was Health care(XLV)--gained 4.63%. Refer to below table for US sector performance for 2018.

US stocks rebounded for the 2nd week in a row, ahead of US-China trade talks in the coming week of Jan 7-8. We may see SPX to test its major resistance area 2529 to 2603 where the stocks plunged below year-end. 

In Asia, Shanghai SSE index was seen a bottom-tail hammer on its weekly chart, which is a bullish sign for bottom rebound, the index hit new low and rebound to close at 2-week high, left a spike-down bottom tail. Immediate support is 2500 level. HSI index formed a bullish hammer candlestick on its weekly chart as well. 

STI rebounded from 3000 immediate support level both in two weekly candlesticks, indicate a strong support level that bulls won't want to give up so far. Immediate upside resistance is 3085-3100 area. Refer to weekly major indexes performance and weekly charts below.