Index Weekly Wrap for the Week of Feb 22

Summary of content for the week of Feb 22:

1. Week 8 major indexes performance;
2. Week 8 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks finished higher for the 4th week in a row, markets were guided by very familiar issues for the week, i.e. U.S.- China trade negotiations, Fed policy and released mixed of economic data. The SPX had a very nice "V shape" rebound since its bottom in December, markets have since never looked back again- no any meaningful retracements till what's now--reaching the top at 2815 level where it started to fall before December bottom. 

Major Asia markets had outperforming for the week, Shanghai SSE index gained the most with 4.5% up following by Hong Kong's HSI 3.3%, it's reported more foreign funds flowing into China A shares decisively.

 Among U.S. 11 sectors, Utilities(XLU) was the top gainer with 2.4% up, breakout new high this week. Energy(XLE) was the least performer with 0.5% down.

Singapore STI hit new high this week since Aug 2018. Next major technical resistance at 3340, and major support at 3195 level. Major indexes weekly chart as shown below.

Index Weekly Wrap for the Week of Feb 15

Summary of content for the week of Feb 15:

1. Week 7 major indexes performance;
2. Week 7 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S stocks extended their recent rally for the week, with DJI surged another 443 points on Friday as optimism regarding the U.S.-China talks and an agreement to avert a government shutdown provided investors with enough reasons to increase risk appetite, despite the disappointed latest December retail sales data- falling 1.2% over prior month, the biggest decline since 2009. SPX added 2.5% for the week. U.S markets will close on Monday for President's day holiday. 

 U.S SPY sectors Energy(XLE) was the top performer with 5.05% gain for the week, Utilities(XLU) gained the least with 0.05%, it shows more funds are flowing into risk-on and cyclical sectors.

Over in Asia, Shanghai Composite Index SSE added 2.5% this week, making the biggest gain in three months, hit a 4-month new high. Hong Kong HSI index retreated after hitting six-month new high, was the only index closed negative by profit-taking, expected to continue its rally coming Monday follow Wall Street on Friday. 

Singapore STI index gained 1.2% for the week, closed at new year-high and poised to move higher coming week following U.S. markets rally on Friday, with next target level at 3350. 

Major indexes weekly performance as follow.

Index Weekly Wrap for the Week of Feb 8

Summary of content for the week of Feb 8:

1. Week 6 major indexes performance;
2. Week 6 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks finished flat after 6 weeks up in a row, market concerned about a slowdown in global growth and a U.S. China trade deal leading to some profit-taking action. The SPX gained 0.1% this week. Nasdaq gained 0.5% and DJI gained 0.2%. 

In Asia, major indexes finished flat as well, it's a shortened week as many are in CNY holiday. HSI index closed just below 28000 level, it added 3000 points in 6 weeks time from 25000 level without any retracement. Shanghai was closed for CNY holiday for the whole week. 

STI was added 0.4% this week, within previous week's trading range. Expected more upside if it can stay above 3200 level. 

 As for the SPX sectors, Utilities(XLU) was the best performer this week with 2.07% gain, and Energy(XLE) was the worst with 3.01% loss, crude oil was down on worries of economic growth slowing down. Eurozone cut its growth to 1.3%from 1.9% in 2019.

Major indexes weekly charts as follows.

Index Weekly Wrap for the Week of Feb 1

Summary of content for the week of Feb 2:

1. Week 5 major indexes performance;
2. Week 5 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks continued going up higher this week. The first month of the year finished on a high note, with stocks advancing for the week and the S&P 500 recording the strongest January gain of 7.9% since 1987. Nasdaq and DJI recorded 9.7% and 7.2% respectively. The main catalysts for the rally were stronger-than-expected earnings reports from a number of companies and a dovish stance from the Federal Reserve. SPX next major resistance at 2800 level. 

In Asia, HSI added 8.1%, Shanghai and STI recorded 3.7% and 4% respectively in January. HSI and Shanghai index was up 5th week in a row, STI retraced slightly for 2nd week. Immediate major resistance 3250 and support at 3167 level. 

All SPX 11 sectors recorded positive gain for the week, Energy(XLE) was the top performer with 3.11% gain, and Consumer Discretionary(XLY) gained the least with 0.15%. 

Index Weekly Wrap for the Week of Jan 25

Summary of content for the week of Jan 25:

1. Week 4 major indexes performance;
2. Week 4 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

US stocks stalled this week, after 4 weeks up in a row, it looks like the bulls are running out of steam or just a pause for further upside. This coming week is very IMPORTANT to monitor, many companies will report earnings, it's a data-heavy week. It will be decided the trend will continue going up or turned down--which indicates the round of rebound is over. 

Among the 11 major sectors in the SPX, Real Estate(XLRE) was the top performer this week with 1.44% gain, and Energy(XLE) is the least performer with 1.43% loss. Refer to sector indexes performance in below table.

Notably, HSI index was very bullish for the week, broke out and hit its 3-month new high. It's weekly candles look bullish. On the other hand, STI index ended with 1st week down by profit-taking, after 4 weeks up in a row. But it still holding above 3200 support level so far. 

Index Weekly Wrap for the Week of Jan 18

Summary of content for the week of Jan 18:

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

US stocks continued rebound for 4th week in a row, the SPX spiked up 2.9% this week, closed above its Fibonacci 50% level, which means it has recovered more than half of its loss in its recent fall from high of 2940. The markets look more like driven by the expected good result from US-China trade negotiations, so I will still consider the stocks are in rebound mode in downtrend rather than the uptrend, I'd rather monitor and see how low is retreated to when it sells off. 

One notable change is the latest US PMI data for December dropped significant to 54.1 from November's 59.3, indicate slower down in the economy though still above 50 expansion/ contraction mark. We will have its Jan 2019 data in less than 2 weeks time. 

As for the US stocks main sectors, financials( XLF), and Industrials(XLI) led the rebound for this week, with 6.12% and 3.42% up respectively. The least performing sectors are Utilities(XLU) and Consumer Staples(XLP) with -0.17% and 1.59% change. The top and bottom sectors indicate investors turned to risk-on assets.

In Asia, major indexes rebounded in hope that China will have more stimulus measures coming out for its worse than expected economy. Shanghai SSE, HSI and STI added from 1.7% to 0.8%, STI appeared somewhat fatigued after 4-week up in a row. 

Index Weekly Wrap for the Week of Jan 11

Summary of content for the week of Jan 11:

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

US stocks have recovered all its loss now--3rd week after the panic selloff week which spooked global investors. The recovery has been fast and unexpectedly strong. While this week SPX candlestick looks very bullish and the index certainly wants to go higher coming week, do look out for overhead resistance at 2640--the 50% Fibonacci level for the period from recent high 2940 to low 2346. Refer to below major indexes weekly performance table and charts.

US 11 major sector indexes all went up this week. The industrials (XLI) and Real Estate(XLRE) added the most with 4.17% and 4% respectively; Consumer Staples(XLP) and Utilities(XLU) added the least with 0.72% and 0.87% respectively. Refer to below sector indexes weekly performance.

In Asia, STI and HSI were the top gainers with 4.6% and 4.1% respectively, but SSE looked still in the doldrums, a laggard with 1.6% up this week. STI continue shows resilience and strength, nest major level of resistance is 3260 if it can break out immediate resistance 3200.