1. Week 2 major indexes performance;
2. Week 2 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks down on Friday, DJI slipped 133pts or 0.46% after U.S announced fresh sanctions on Iran and somewhat disappointed nonfarm payrolls report for Dec. However, the three major indexes all closed to fresh new high for the week, equities around the world rebounded and getting higher after Middle East tensions recede. Technology dominant Nasdaq index especially strong with 1.75% weekly gain. The mighty U.S stocks seem getting stronger and stronger, we know this strong market will not last forever, but it's very strong as for now.
Among the SPX 11 major sectors, the Communication Services(XLC) and Technology(XLK) are top perform sectors, led by Apple following a report of strong than expected iPhone sales in China. Google parent company Alphabet(GOOGL), Facebook(FB), Apple(AAPL) are leading stocks. Besides, China's Alibaba(BABA) has been strong as well since its launch of secondary listing in HK BABA-SW(9988.HK).
China/HK
Shanghai Index rose for the sixth straight week. Stocks has been bullish ahead of Lunar New Year holiday. Historically the mainland stocks will rise during the 30-day CNY holiday window. The HSI index rose for 6th week in a row as well, breaking up its downtrend line as seen in below weekly chart. HSI index which lagged behind other peers last year is expected to catch up this year. Technically bullish and poised for more upside.
Singapore
STI rose for 3rd week straight up, slow and steady as it approaching its major downtrend line. Immediate resistance at around 3270 level.
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