1. Week 41 major indexes performance;
2. Week 41 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
Stocks rallied on Friday as Trump announced US-China trade "Phase 1 Deal". Positive comments on the Brexit also added to the optimism. This incremental progress is encouraging, but additional phases of agreement will likely to more time. Thus trade issues will remain a source of volatility.
Within S&P 500, export-sensitive sectors such as Materials(XLB), Industrials(XLI) and Technology(XLK) got boosted. Utilities(XLU) lagged as rising interest bond yield made their relatively high dividends less attractive.
Technical perspective, SPX and DJI closed 1st week up after three-week down in a row, and Nasdaq(COMP) closed for 2nd week up. The long tails left on their weekly charts for past two weeks signaled increased market volatility.
China/Hong Kong
China and HK markets both made decisively rebound this week, ended three-week decline streak. Hongkong's protest still ongoing and seems will not end anytime soon. But the downside will be limited as valuation very cheap and attractive.
Singapore
STI also posted first week reobund after three-week down. Immediate support 3068-3100 level.
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