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Sunday, November 19, 2017

Index Weekly Wrap for the Week of Nov 17

For the week of Nov 17, major indexes closed mixed. In the US, tech heavy index COMP hit fresh new high, but SPX and DJI close in red for 2nd week. SPX retraced after hitting its major upper channel line(resistance). All three index uptrend well intact.

HSI index hit fresh new high this week, thanks to Tencent's(700.HK) good than expected result.

Both STI and SSE indexes lost more than 1% this week to 1.1% and 1.5% respectively. Both indexes are at same number 3382 level coincidentally.

Major indexes weekly performance as follows.

Sunday, November 12, 2017

EUR/USD and The Dollar Index DXY

It's worth to note the charts for EUR/USD and the dollar index DXY. They are inversely related as seen below.

A rising dollar from bottom of chart at 91 to current price of 94 has formed an Head and Shoulder bullish reverse pattern(refer to DXY daily chart). With the same time frame, by looking at the EUR/USD daily chart, which has formed a head and Shoulder bearish reverse pattern(refer to EUR/USD chart).

Both patterns are powerful bottom and top reversal signal. DXY neckline at 94.14, with target price (TP) projection to 97.31, and EUR/USD neckline at 1.1665 with TP projection down to 1.1262, if both pattern work out.

Index Weekly Wrap for the Week of Nov 10

For the week of Nov 10, among my six major indexes, all three in Asia closed positive with 1.1% to 1.8% gain, and all three US indexes closed negative with 0.2% to 0.5% loss. Seen in below index weekly performance table, HSI is the top performer with YTD gain of 32.4% gain, and Shanghai index is catching up from last position now, with 10.6% YTD gain.

 STI index looks bullish, it's now trading towards 2-yr upper channel line(resistance) at 3442 thereabout.
 HSI index had breakout its 2-yr upper channel line this week, the bulls look so strong. Tencent(770.HK) this week was giving a push to the index.
 Shanghai SSE index looks great, plenty of room to upside when other indexes look "overbought".
 The US three indexes charts looks stunning, they are just up and up without looking back. When will the trends end?

Sunday, November 5, 2017

Index Weekly Wrap for the Week of Nov 3 and Monthly Performance for Oct

US stocks continued hitting new high this week, DJI has had 7 months consecutive gain by Oct.

In Asia, HSI is trading at its 3 year-high, STI also trading in its 3year top range now. The only lagger is Shanghai SSE index which still trading within 2-year range and there are plenty of room for upside.

On monthly basis, STI was the top gainer with 4.8% up, and Shanghai SSE index as lagger with 1.3% gain in October.

Major indexes weekly and monthly performance as follows.

Sunday, October 29, 2017

Weekly Wrap for the Week of Oct 27

Major stocks continue going up this week, except that HK HSI index stayed in flat( has been in sideway consolidation for 3weeks so far in uptrending).

US stocks continue getting higher and higher in hope of tax cut reforms.

STI this week played catch-up and was the best performer with 1.4% gain, breakout new high, it's approaching its uptrend channel(resistance) 3430 now. In 4th week consecutive positive close.

China SSE index looks playing catch-up as well, it has plenty of room to upside, em bullish on the index.

Do take note that SPX is in its 7th month up consecutively, approaching its major upper channel line(resistance) drawn since the bottom of 2009, the market has had extend up-run by now.

Saturday, October 21, 2017

Weekly Wrap for the Week of Oct 20

US stocks continue hitting new high after new high. DJI has crossed above 23000 mark this week.

STI is 3rd week up with KEP as one of the biggest winner for the week, still there are room for upside move.

HSI is trading at its upper channel line (resistance) on extended run up, the uptrend looks likely due for a correction.

Shanghai SSE still lag behind its peers and looks plenty of room to upside. Major indexes weekly performance as below.

Sunday, October 15, 2017

Weekly Wrap for the Week of Oct 13

Major stock indexes edged up slightly this week, gained 0.1% to 0.8%. Except for China SSE index which gained 1.2%, SSE seen slowly gain strength.

US stocks just getting higher and higher without look back.

STI rebounded for 2nd week, next target is 3365 which is a YEC(year-End-Close) figure to watch.

HSI currently sitting at its 2015 year high(resistance level), overall trend is bullish. SSE has plenty room to upside, next target is 3540 should it continue catch-up.

Sunday, October 8, 2017

Weekly Wrap for the Week of Oct 6

US markets three major indexes hit record high again. US stocks on bull run on renewed hope for Trump's tax reform.

Hang Seng HSI index also breakout from its 2mths consolidation range and hit new 3-yr high, it's expected to move higher in coming week(s). Whereas China market  SSE close this week for Golden-Week Holiday.

STI had breakout from its 3wk consolidation and hit 2-mth high, next target is 3365 level. Market is bullish. Blue chip are in focus.