Index Weekly Wrap for the Week of May 1

Summary of content for the week of  May 1:

1. Week 18 major indexes performance;
2. Week 18 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
4. Month of April major indexes performance
U.S
U.S stocks finished lower the last week of April, but SPX posted its best month since 1987, up 12.7% for the month, with the unprecedented central banks stimulus measures. Also new coronavirus cases slowing down globally and countries around the world reportedly slowly reopening their economies, but the recovery will be phased and gradual. Poor economic data released and a possible restart to the U.S -China trade war worries investors. 

Technically, U.S three major indexes all formed a weekly shooting-star candlestick which is bearish. But all three indexes remained above their respective 20 and 50dma after recent run up, especially Nasdaq index has been the strongest performer. First major support to watch SPX is 2720 in coming week.

China/HK
China stock market closed on Friday for extended Labor Day holiday and will resume on May 6, Wednesday. China SSE index has been consolidating within its 4-week trading range. HK's HSI index closed just beneath its 24900 resistance level, it should most likely follow if Wall St continues to selloff in coming week.

Singapore
STI reported best gain in last week of April with 4.2% up, hitting 7-week new high. Continue to watch 2522 its previous 10-yr low level for immediate support.