1. Week 16 major indexes performance;
2. Week 16 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks closed 2nd week up in a row, the longest streak since Feb peak. All the three major indexes have recovered more than 50% of their coronavirus loss from Feb-Mar, technology dominant Nasdaq(#COMP) index outperformed by a wide margin, with more than 61.8% gain. Also the tech shares in SPX outperformed, helped by strong gains from chipmakers, as well as bellwethers Microsoft(MSFT) and Apple(AAPL), and a solid gain in Amazon(AMZN).
Stocks turned to bullish as unprecedented fiscal from government and monetary measures from the Fed. When you have got too much money and liquidity out, stocks will benefit the most.
China/HK
China SSE index hit 4-week new high for the week, and HSI index hit 5-week new high. China's 1Q GDP contracted 6.8% came in better than expectation. And data shows industrial production rebounded sharply in March as compare to first two months. China is the first country hit by coronavirus and also the leading country to recover economic activities after the virus put under control, its economic data and recovery process will be mostly watched by markets.
Singapore
STI closed 2nd week up in a row, early gain on Friday was almost erased by profit-taking as Singapore's rapid rise in coronavirus cases made traders nervous. Immediate upside target is around 274--2750 and downside support to watch 2522 previous 1-0yr low. Refer to major indexes weekly charts below.
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