1. Week 5 major indexes performance;
2. Week 5 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.
US stocks continued going up higher this week. The first month of the year finished on a high note, with stocks advancing for the week and the S&P 500 recording the strongest January gain of 7.9% since 1987. Nasdaq and DJI recorded 9.7% and 7.2% respectively. The main catalysts for the rally were stronger-than-expected earnings reports from a number of companies and a dovish stance from the Federal Reserve. SPX next major resistance at 2800 level.
In Asia, HSI added 8.1%, Shanghai and STI recorded 3.7% and 4% respectively in January. HSI and Shanghai index was up 5th week in a row, STI retraced slightly for 2nd week. Immediate major resistance 3250 and support at 3167 level.
All SPX 11 sectors recorded positive gain for the week, Energy(XLE) was the top performer with 3.11% gain, and Consumer Discretionary(XLY) gained the least with 0.15%.
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