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.