Wrapping Up 2020 in One More Week

 Summary of content for the week of  Dec 25:

1. Week 52 major indexes performance;

2. Week 52 US sector indexes performance;

3.Major indexes weekly charts of support and resistance levels;

U.S

U.S major stock indexes ended mixed in a holiday-shortened week. One more week to go to end the year, 2020 will go down in history as one of the most memorable and unpredictable years of our lives. We are lucky(or unlucky for some) to witness the history, I will prepare a special year-end wrap-up edition for WeeklyWrap next week. Meanwhile, here are some major events and focuses over the week ended Dec 25:

1. Over 1 million people in the U.S receiving the first dose of the new vaccine. 

2. New relief package of USD 900 billion passed by lawmakers and Trump likely to approve it despite he has cast doubt over the bill, as the package contains key funding for vaccine distribution.

3. UK and EU agree on post-Brexit trade deal, finally.

4. New strain of coronavirus reported more transmissible in the UK weighted down on global markets on Monday but investors seemingly calmed by reassurances from the U.S health officials that the new strain did not appear more deadly and would likely be treated by the vaccines. 

5. Latest wave of the pandemic might be peaking around the world, along with the efforts of countries procuring vaccines for their people.

Technically, SPX run-up appears extended and overbought after having two-month up in a row, technical retracement or sideway consolidation possible in the coming month(s) due to profit-taking. 

Among the SPX sectors, Financials( XLF) and Technology(XLK) outperformed and are the only two sectors closed in green, helped by further gains in Apple(AAPL), while Energy(XLE) shares lagged. Refer to below major indexes weekly performance table and SPX sector indexes weekly performance table for details.

China/HK

China SSE index ended marginally up after rebound on Friday, despite flareup in Sino-U.S tensions weighed on sentiment. U.S added 58 Chinese companies and 45 Russian companies to its "Blacklist". 

Separately, Alibaba(BABA) was targeted by China's anti-monopoly probe. The world's largest financial technology company share price plunged 15% in the week, it has dropped 30% since its peak on Oct 26 so far. 

Singapore

STI has been muted in the holiday-shortened week within its 5-week sideway consolidation trading, with a bullish bias. The index was the worst performer in my focused major indexes table below, losing 11.8% YTD. However, it's expected the index will play catchup next year as Singapore already secured and will be the first Asian country to start the first vaccine doses, its export-oriented economy also expected to recover next year.