SPX Backed to Pre-Pandemic Level, gained 4.4% Year-To-Date

 Summary of content for the week of  Aug 14:

1. Week 33 major indexes performance;
2. Week 33 US sector indexes performance;

3. Gold and Silver Price
4. Major indexes weekly charts of support and resistance levels;

U.S and Global

U.S stocks extended their weekly gain, though it appeared bumpy and very near unchanged mark. SPX rises to within a whisper of its all-time high last seen on Feb 19. So far, the index has rebounded 50% from its Mar lows, but the economy still a long way from recouping its pre-pandemic GDP level. The giant difference was attributed by some analysts as the stocks are forward-looking and reflect future expectations, but economic readings display recent but backward-look activities. While markets appear churning at the top, there are some bearish divergency signals that emerged for now, keep monitoring.

GOLD and Silver

Gold and silver experienced profit-taking, recorded their first week down after 9-week consecutive up. In its latest filing, Warren Buffet's company Berkshire added just a single new stock to his portfolio: Barrick Gold (Code: GOLD.N), read more HERE 

SPX Sector Indexes Industrial(XLI) and Energy(XLE) outperformed this week while Utility(XLU) and Real Estate(XLRE) lagged. 

China/HK

Mainland China stock ended the week broadly unchanged as investors stayed on the sidelines ahead of the U.S-China phase one deal review on Aug 15. It reported on Sat the two sides have decided to postpone the meeting to a future date. 

U.S continues to take action against Chinese big tech companies such as TikTok, Tencent's WeChat and the latest on Alibaba increased uncertainties to HK financial markets.  HSI index rebounded this week after 4-week down in a row.

Singapore

STI recorded 2nd-week rebound in a row. Immediate technical support at 2477-2502 level and upside 2705 level.