Index Weekly Wrap for the Week of Mar 1

Summary of content for the week of Mar 1:

1. Week 9 major indexes performance;
2. Week 9 US sector indexes performance;
3. Major indexes performance for the month of Feb;
4. Major indexes weekly charts of support and resistance levels.

US stocks finished slightly higher for the week, in a tight range as the market consolidated recent gains. The end of Feb marked the best 2-month start to the year for SPX since 1987, with the index up 11.5%. The U.S. announced to delay the Mar 1 trade deadline for additional tariffs on China from 10% to 25% as negotiations are progressing. Stocks didn't react much to the news as it already priced in, with investors now focused on a trade agreement materializing.

China SSE index entered bull market territory this week after it up over 20% from recent lows-after MSCI announced that it would quadruple the weighting of China shares in its widely used global benchmarks this year, from 5% to 20%. SSE surged 6.8% this week, making the index's biggest weekly gain since 2015.  Major indexes weekly performance as in below table.

Major indexes monthly performance as shown in below table, the SSE index surged up 13.8% in the month of Feb, making it the top gainers among the indexes, reversed from its rank in the bottom last year. 

The SPX looks long term bearish but short term bullish- it formed a hanging man weekly candlestick after 10-week up in a row without any meaningful correction, but its daily chart looks still very bullish with no any signs of bearish reversal. 

Among 11 major sectors, Energy(XLE) was the best sector up 1.05% this week, and Materials(XLB) was the worst sector with 1.43% down. 

Singapore STI was down 1.5% this week by profit-taking, no big selling. Immediate technical support level at 3215, then 3167. Weekly sectors indexes and major indexes weekly charts as shown below.