1. Week 52 major indexes performance;
2. Week 52 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks hit new record high in the final week of the year 2019, also the final week of the decade. Especially the technology dominant Nasdaq index(COMP) closed above 9000 for the first time-it's remarkable. The SPX is track to match the 2013 29.6% return, which was the best of this decade. The year of 2019 seen stocks climb higher and higher despite worries of of trade war, recession and global growth slow-down. There is no firm signs of immediate economic recession going forward to new year 2020.
It was a Christmas holiday-shortened week, Consumer Discretionary(XLY) shares outperformed and Utilities(XLU) shares lagged.
China/HK
China SSE index posted 4th straight week gain, buoyant by U.S-China phase one deal and latest upbeat by Industrial profits in Nov. Technically, SSE facing immediate major resistance at 3040 level, it has been consolidated below this level since May, expected further upside once breakout. HSI index also up by 4th week consecutively and facing its major downtrend line( refer to below weekly chart).
Singapore
STI has been a lagger this year crawled up for the week in a light vol, plenty of room to upside at currently level but expected trading will be thin during upcoming holiday-shortened week. Meanwhile, wish everyone a Happy and Prosperious new year ahead!
No comments:
Post a Comment