Index Weekly Wrap for the Week of Mar 8

Summary of content for the week of Mar 8:

1. Week 10 major indexes performance;
2. Week 10 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks ended the week lower after bearish hanging man candlestick formed previous week. The SPX reversed down after hitting resistance level 2815, as investors started worrying about the slowing economic growth. several world central banks are easing their stances towards rate hikes or taking new measures to boost their economies. As a result, the USD appreciated against other currencies, s strong dollar viewed as a bearish sign for US stocks. 

SPX closed 1st week down after 10-week up, due to profit-taking and new sellers come in, but it's still very early to decide this round of rebounded is over and the market will go down from now on. I'm still cautiously bullish. Next major technical support level to watch for SPX is 2675-2650. 

Out of 11 SPX sectors, Utilities(XLU) was the best performer with 0.7% up, more money flew into the defensive sectors when market down. and Healthcare(XLV) and Energy(XLE) are the two worst performers for the week each lost 3.8%. 

China stocks ended lower after a very volatile week, it hit weekly high 3129 points and was sell-off hard to 2969 on Friday, as poor Feb trade data and bearish on broker calls on two high-flying financial stocks led investors to lock in gains after the SSE index entered a bull market one week ago. The Weekly candlestick for SSE index looks pretty bearish, there may be more downside due to profit taking coming week. 

STI closed at 3195 technical support level, in its 2nd week down in a row. Immediate major support at 3167 level.