1. Week 3 major indexes performance;
2. Week 3 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stock extended its rally for the week, 2nd week straight up. As the U.S-China signed their phase one deal agreement, encouraging earning from U.S banks and better economic data pushed U.S stocks to fresh new high. The round of rally has extended upside a lot, but it won't be going up forever, for sure. Technically, the weekly candlestick is still bullish, but I think a short-term pullback is a reasonable expectation.
Among 11 SPX major sectors, Utility(XLU) outperformed and Energy(XLE) lagged. Technology(XLK) and Communication Service(XLC) continued to be strong among other sectors.
China/HK
China SSE index hit high early this week but eased ahead of signing of phase one deal agreement with U.S and did not rebound after the announcement. Technically, The SSE index hit its major downtrend resistance level at around 3120(see below weekly chart) and closed first week down after six-week up in a row, I think the downside is limited by strong support at 3000-3030 area.
HSI appears to be much stronger, it has already breakout to upside from its major downtrend line( refer to below weekly chart).There are plenty of room to upside.
Singapore
STI has another week gain to close very close to its previous high of 3285.72 in Nov 7 last year, it also hit a technical downtrend resistance line right above. Weekly candlestick looks bullish, do expected sideway consolidation ahead of CNY or short term pullback.
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