1. Week 28 major indexes performance;
2. Week 28 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
4. Major indexes monthly performance for June.
U.S
U.S finished higher with the technology sector extending a recent surge that returned the Nasdaq to record highs. COVID-19 and economic data are two major forces that dragged markets back and forth. Technically, it appears something big about to happen. Refer to SPX weekly chart below, the index has broken out from its 3-week consolidation range and closed just at its downtrend line(purple line).
China/HK
China stocks jumped at the start of trading Monday, with many attributes the strength to a front page editorial in the China Securities Journal, which stated that “fostering a healthy bull market after the pandemic is now more important to the economy than ever”. After June's positive economic data, many analysts have upgraded their 2Q estimates for China's economic growth.
Hong Kong stocks seen international and mainland funds continue flowing in at the start of Monday but gave back most part of its gain by profit-taking on Friday.
Singapore
STI closed flat in the shortened trading week. Market closed for the general election on Friday. Technically the index downside support at 2572 level.
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