Index Weekly Wrap for the Week of Mar 29

Summary of content for the week of Mar 29:

1. Week 13 major indexes performance;
2. Week 13 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.
4. Major indexes monthly performance for March

Stocks ended the week and the quarter on a high note, rising globally. The SPX recorded its strongest quarterly performance in a decade, rising 13% and leaving the index 3% off its all-time high according to Bloomberg data. The market rebound during the quarter was fueled by the Federal Reserve's pivot in rate hikes, better-than-expected earnings results, and optimism that a U.S. - China trade deal will be reached.

The spoiler contributed to past week market selloff is the Yied Curve Inversion, prompting concerns of economy recession. 10-year interest rate fell as low as 2.37% last week, the lowest since Dec 2017. While an inverted yield curve has reasonable solid track record of signalling economic downturns, but an impending recession is far from assured at this stage. Fed rate policy is still accommodating and U.S PMI is slowing down but still above 50 expansionary mark. 

Industrials(XLI) shares performed best within the S&P 500 Index, helped by a partial rebound in Boeing(BA) shares after the company announced a software fix for its troubled 737 Max airliner. Utilities(XLU) performs worst, and Communication Services(XLC) also lagged as FANNG stocks such as Goole parent company Alphabet(GOOGL) look weak. 

Shanghai Index had a handsome gain for the month of March with 5.1% up, after 13.8% up in Feb. The index has been the best performer this year with 23.9% gain, while the U.S tech-heavy weighted Nasdaq index(COMP) come in 2nd with 16.5% up so far. HSI index also recorded 12.5% gain in the first quarter, not bad. Chinese stocks in HK and Shanghai are gain more attraction. 

STI, on the other hand, a lagger with only 4.7% gain so far. it has been in consolidation since mid-January this year.