1. Week 33 major indexes performance;
2. Week 33 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks down for 3rd straight week, worried about global economic slowdown and renewed yield-curve inversion worries. The biggest drop came on Wednesday when the 10-year Treasury bond yield dipped below two-year rate for the first time since 2007, and DJI dropped 800 points. However, strong U.S retail sales for the month of Jul reported on Thursday help easied market and led for markets recovery on Thursday and Friday. I'd like to reiterate that no signs for an immediate crash on U.S stocks given that U.S economy still healthy though slowing down, the low-interest-rate environment would also provide support for credit and cheap money which are positive for stocks. However, do expect market volatility as trade war not going to end anytime soon.
Among the 11 SPX sectors, Consumer Staples(XLP) and Utilities(XLU) performed the best, Energy(XLE) underperformed as oil price gave back its early rally in the week.
China/HK
China SSE index posted first week gain after two-week straight down. China's economic data released came underestimate, underscored the slowdown in economy. China announced on Friday will boost its disposable income to spur consumption gave a lift to stocks.
HK HSI index recorded 4th week down in a row, but the index recovered most of its loss for the week after hitting its Jan year-low of 24899 level. Trading at a key technical support 25000 and expected technical rebound.
Singapore
STI recorded 4th week straight down, lost total 8%. Its immediate technical key support at 3100-3068 level.
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