Index Weekly Wrap for the Week of Mar 20

Summary of content for the week of Mar 20:

1. Week 12 major indexes performance;
2. Week 12 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks suffered another week of steep losses, as concerns deepened over the COVID-19 virus and its economic impact. SPX feel to its lowest level since 2017 and DJI fell back to lows since 2016. U.S three major indexes lost the most in my index watch table below, range between 12-18% for the week. Year-To-Date(YTD), DJI lost 32.8%, SPX fell 28.7% and Nasdaq(Comp) fell 23.3%, all these happeded just in four weeks time. Technically, SPX has already broken its long-term trend line support drawn since 2009 Financial Crisis. NDX index which is Nasdaq 100 ETFs still got some room above its long term trendline. As seen in below monthly chart. The selling is very heavy, no sign of bottom or rebound.

U.S called for 1.2trillion stimulus plan, EU announced 1 trillion in fiscal spending, Fed cut rate by a full 1% and restarting its bond-buying. Not only that, the oil price war send crude oil to 22.63 per barrel which fell back to level around Yr2001 low. For Shorter term crude oil ETF, may consider ETF #USO(3mths future contract), for longer term crude oil related ETFs, may consider #DBO(6 month contracts) and #USL(12 months contract).

All 11 major SPX sectors are badly selloff, Consumer Staples(XLP) is relatively resilient, and Energy(XLE) and Real Estate(XLRE) lost 20% and more for the week. 

China/HK
SSE index dropped 4.9% for the week. While it was reported no new domestic virus cases and China's business and factoring operation is on its way pushed back to normal. Economic data is much weaker than forecast. Investors is watching how is its recovery look like. HSI index fell 5.15 for the week, and will have bigger impact from U.S and foreign funds. Immediate technical level to watch is 22000.

Singapore
STI fell 8.5% for the week, and already lost 25.2% YTD by 20 March. The index trades below its 10-yr low level. Blue chips such as Singapore banks are trading below their tangible book values, appreas to be very attractive for longer term investment. All three banks dividend yield is above 6% and DBS is the highest at over 7% dividend yield. It's time to have longer term view in mind and accumulate in good quality top companies, while control your risk.