Index Weekly Wrap for the Week of Jul 19

Summary of content for the week of Jul 19:

1. Week 29 major indexes performance;
2. Week 29 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks closed slightly lower this week, after hitting a cord high the previous week. Most of the attention now shifting to corporate earnings announcement, kick-started with banks. There are three heavy-weighted tech companies including FB, AMZN and GOOGL will report earning the coming week. The near-term rate cut expectations, U.S-Iran geopolitical tensions and U.S-China trade talks progress are also factors in play.

Among the major 11 SPX sectors, Consumer Staples(XLP) and Materials(XLB) shares outperformed. Energy(XLE) and Communication Services(XLC) are laggers, dragged lower by a plunge of Netflix(NFLX) share price. Crude Oil prices declined for five days in a row, finished 7% lower on global demand concerns.

China/HK
Shanghai stocks ended the week almost flat, China's GDP reported for 2Q rose 6.2%--its weakest in 27 years. There are hopes for more stimulus measures to support the economy should further signs of economics weakness emerged. HSI index was the most outperformed in my watchlist with 1.03% gain this week. Technically there are about 500 pts for upside move till it meets major resistance 29200 level.

Singapore
STI was trading approach its year high 3415, technical appears bullish as seen in below weekly charts.