Index Weekly Wrap for the Week of Apr 10

Summary of content for the week of  Apr 10:

1. Week 15 major indexes performance;
2. Week 15 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
SPX recorded its biggest weekly gain in 45 years with 12.1% up, in the holiday-shortened week. The Fed also announced additional even larger stimulus program, promising $2.3 trillion in loans to smaller business and municipalities. 

Technically, the three major U.S indexes have so far recovered almost 50% of their losses from Feb high to Mar low as drawn in the weekly charts below. Quarterly earning announcement will begin next week first start with banks, if the indexes continue up to hit 61.8% Fibonacci retracement level then bulls will be in charge. 

Among 11 SPY sectors, the Real Estate(XLRE) and Materials(XLB) outperformed with more than 20% gain, and Consumer Staples(XLP) lagged with 5% gain. 

China/HK
China ended its lockdown of wuhan, the original epicenter of the coronavirus outbreak. SSE index muted this week with 1.18% gain only. HSI rebounded to 4-wk high with immediate technical resistance at 25000 level. 

Singapore
STI rebounded above its previous 10-yr low, closed at 4-wk high. Technical bullish with next target at 2744 which is the 50% mark of this round of selloff.