Index Weekly Wrap for the Week of Apr 24

Summary of content for the week of  Apr 24:

1. Week 17 major indexes performance;
2. Week 17 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks closed lower after 2-week consecutive up for the week ended Apr 24. The week's biggest event was the sharp drop in oil prices. The May WTI oil futures contract, due to expire Tuesday, closed at -$37.63 per barrel- meaning that buyers were getting paid to take store each barrel. The plunge in energy demand and what it implied for global economy seemed to worry investors the most. 

Technically, the three U.S indexes hold high and tight though closed a bit lower, the broadly watched SPX closed above its 50% Fibonacci retracement level and also 50dma(daily moving average) whic his a bullish sign and has the potential run higher to 61.8% target at 2934.49 level. Technology dominant Nasdaq index appears even more bullish, crossed and closed above 61.8% level this week and way above its 50dma level. 

China/HK
HK HSi index closed lower after 2-week up in a row, as it hitting major technical level 24600 support turn resistance level. Shanghai also closed lower but was still trading within its three-week trading range, consolidation.

Singapore
Singapore was the worst performer index in my watchlist below, with 3.69% down for the week, three local banks' exposure to an major local oil trader and the high number of virus cases obviously worried investors. Technically the index dropped back just below its previous 10-yr low 2522 level, watch if the index can hold around this level in coming week(s).