Index Weekly Wrap for the Week of Apr 26

Summary of content for the week of Apr 26:

1. Week 17 major indexes performance;
2. Week 17 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S
U.S stocks rallied to all-time new closing highs for SPX and COMP, fully recovered last year's selloff in less than six months, while DJI is just about 200 points below its all-time high. Corporate profits, signs of easing trade tensions have helped improve sentiment over last serval months. The latest update for U.S Q1 2019 GDP also came in better than expected. Coming week PMI and Fed interest rate on Thursday and corporate earning results will be in focus. 

Among 11 major SPX sectors, the Health Care(XLV) and Communication Services(XLC) are the top performers(refer to below weekly sector performance). and Energy(XLE) was lagging behind as crude oil prices lower after early-week increase.

China/HK
China stocks posted their biggest weekly loss since October 2018 amid fears that China would dial back policy support after its economy grew more than expected in Q1. China SSE index lost 5.64% for the week, hit 4-week low; HK HSI index also dropped 1.2% hitting 3-week low. 

Singapore
STI crept up higher despite China and HK's down, the index looks resilient. Immediate technical resistance at 3400 and downside support at 3283-3300 area. 

Index Weekly Wrap for the Week of Apr 19

Summary of content for the week of Apr 19:

1. Week 16 major indexes performance;
2. Week 16 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S

The major indexes closed mixed for the holiday-shortened week. The SPX is essentially back to its peak of last September, sitting just slightly more than 0.5% from its all-time high. Volatility index VIX hit 8-month low this week, markets are relatively quiet ahead of long weekends.  

SPX sector performance. U.S health care sector(XLV) was the weakest one among major 11 sectors, as investors worried about possible policy headwinds. Industrials(XLI) outperformed, helped by better-than-expected earnings reports from Union Pacific and Honeywell on Friday.

China/HK

China's GDP grew more than expected in 1Q, rose 6.4% from Jan to Mar. Shanghai index rebounded to previous high, after profit-taking last week. HSI index closed flat ahead of long holidays- HK exchange closed on Friday and Monday, and resume trading on Tuesday. 

Singapore

STI edged higher this week, recorded 6-week up in a row. Continue watch major technical resistance at 3340-3350 area, downside gap support at 3280-3300 area. 

Index Weekly Wrap for the Week of Apr 12

Summary of content for the week of Apr 12:

1. Week 15 major indexes performance;
2. Week 15 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S
Two out of the major three indexes in U.S recorded small gains for the week. SPX recorded 3rd week up in a row, roughly 1.1% away from its all-time high in Sep 2018, and DJI closed at a slight loss. Banks kicked off earning season this week, there are more heavy-weights companies will report in coming week. U.S long-term 10-yr bond yield continues rebound for 2nd week.

SPX sector performance. SPX Financials(XLF) outperformed, as banking giant JP Morgan(JPM) reported better-than-expected result on Friday. Communication Services(XLC) shares were also strong, as Walt Disney(DIS) rallied after unveiling a new streaming service.

IMF reduced its growth forecasts for global economy. It reduced Japan's growth for 2019 to 1% from 1.1%, cut global growth to 3.3% from 3.5%, cut U.S to 2.3% from 2.5% and Eurozone to 1.3% from 1.6% this year. Due to U.S-China trade dispute, weakness in Europe and Brxit risks.

China/HK

China Shanghai SSE index took a breather, fell for 1st week after 4-wk up in a row. SSE stocks remain among the world best YTD performers for 27.86% return, as investors gain more confidence that U.S-China towards making a trade deal. HSI dipped back below 30,000 level after briefly traded above it for 3days this week. The index looks still bullish.

Singapore
STI edged up 9pts or 0.3% after rallied 3.4% last week. Facing immediate major technical resistance level between 3340-3350.

Index Weekly Wrap for the Week of Apr 5

Summary of content for the week of Apr 5:

1. Week 14 major indexes performance;
2. Week 14 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S 
SPX recorded 7th up in a row, DJI moving higher to within 2% of its all-time high hit in Sep 2018. U.S jobs reported better than expected numbers, easing fears of slowdown in the labour market, which is a positive sign to support stock markets. The much worrying U.S 10yr bond yield rose a bit over the week, the increase helped return the yield curve to an upward slope. 

SPX sector performance. Materials sector(XLB) performed best this week. The larger Financials sector(XLF) also outperformed. The typically defensive Utilities(XLU) and Consumer Staples(XLP) lagged. 

Asia
Shanghai SSE index ended at the highest level in over one year as Chinese stocks extend rally, in the shortened week in both Shanghai and Hongkong as they closed on Friday for a public holiday. China March PMI showed a return to expansion after more than 2 quarters of mild contraction, which is a positive sign to support for stocks. Chinese stocks are gaining more and more attraction to global investors. The new round of U.S-China high-level trade talks give hopes that the two countries to make a trade deal. 

Singapore
STI played catch-up this week, rallied 3.4%. Technically, it's approaching a pivotal level of 3340, which was a key support level before June 2018's breakdown and selloff thereafter. The index rebounded back near this level, it becomes a support-turn-resistance level.