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Monday, September 25, 2017

Weekly Wrap for the Week of Sep 22

US stocks close mixed for the week ended Sep 22, all three major indexes hit new high intra-week. DJI and SPX closed positive but Nasdaq close down on profit taking. All three indexes uptrend in good shape.

Over in Asia, Shanghai SSE index close flat, 3rd week in consolidation after its 3weeks surge up, the trend is still upside.

HSI continue testing its upper channel line while approaching its major resistance 28500 level, leaves ample room for downside profit taking.

STI continue hold just above 3200 key support level ,while we are still in a major uptrend channel.

Sunday, September 17, 2017

Weekly Wrap for the Week of Sep 15

US stocks three major indexes all closed new high this week, SPX breakout from its 8 weeks consolidation finally. Very bullish uptrend, and US stocks are expected to continue moving higher.

HSI index has been in a tight range consolidation for three weeks, uptrend is intact. China SSE index in 2nd week profit taking, lost a bit but it seems bulls are still in control. It's expected to resume upward move after the consolidation.

STI tested 3200 support level this week and close just above it. Continue watch key support at 3200 level in coming week see if it rebounds.

Sunday, September 10, 2017

Weekly Wrap for the Week of Sep 8

World major indexes closed on bearish tone for the week, US stocks have been trapped within six weeks trading range, though uptrend are instill intact for all the three indexes.

China SSE index stalled this week after three consecutive weeks up. Bulls are in charge but may have profit taking in coming week(s).

HSI index retreated from its upper channel line resistance as shown in below weekly chart.

STI gave up its support area 3260-3270, trading down inside its May-Jul consolidation range 3200-3270, immediate key support level is at 3200. Uptrend still intact.

major indexes weekly performance are in below table.

Saturday, September 2, 2017

Weekly Wrap for the Week of Sep 1 and Monthly Index Performance for Aug

Major stocks indexes rebounded for 2nd week, US tech stocks made a strong return with new high, Overall US stocks are in bullish tone, uptrend well intact with no immediate bearish reversal signal.

China SSE in 3rd week up consecutively, China stocks look bullish after crossed above 3300 key level, plenty of room for upside.

HSI index made new high this week, hit its upper uptrend line, also near its major resistance level 28500, watch closely any bearish reversal signals for potential profit taking, the index registered stunning YTD return of 27.1%, has been the most outperformed index in my focus list in below table.

STI rebounded from support area 3260-3270, it's in profit taking and consolidation mode hiting new high in Jul. Continue watch support immediate support 3260-3270 then key support 3200, upside resistance at 3350.

On monthly basis, China SSE registered highest monthly return with 2.7%, following by HSI. STI is the only index had loss in Aug with 1.6% down. Refer to below tables for major index weekly and monthly performance.

Sunday, August 27, 2017

Weekly Wrap for the Week of Aug 25

World stocks rebounded this week, DJI and SPX close for the first week after two consecutive weeks negative, whereas COMP also close green first time after four weeks red. Major uptrend intact.

Over in Asia, HSI gained the most with 3% up, hit new high. China SSE also crossed its major 3300 resistance mark. Plenty of room for upside move.

STI is relatively weak, added only 0.2% after three weeks negative close, at its support area 3260-3270. Let's see can it make a catch-up in coming week. Overall, the STI index has made 13.1% return YTD, still one of the top performer as compare to other major indexes.

Saturday, August 19, 2017

Weekly Wrap for the Week of Aug 18

US stocks continue fall this week, with the COMP and DJI closed below their major uptrend line, the SPX just close on the uptrend line support. The VIX index dropped 8% to close at 14 this week.

China's SSE index seems unaffected US markets at all, with remarkable 1.9% or 60 points gain this week. Weekly chart looks bullish, with plenty of room to upside. HSI index did not follow through its previous week massive sell, rebounded a bit this week.

STI continue its 3rd week close in red, broke below 3260-3270 support area, next major support is at 3200. Weekly candlestick looks bearish.

Weekly index performance as in below table.

Saturday, August 12, 2017

Weekly Wrap for the Week of Aug 11

Major markets all close red this week, following US stocks' panic selling. The fear factor VIX index surged 55% this week to 15.51. US stocks uptrend still intact but bearish reversal signal seen, probability of downside risk increased in coming weeks.

STI retreated near its major resistance 3365, 2nd week close negative, immediate support 3260-3270.

HSI hit its upper channel line and retreated, formed a bearish engulfing weekly candlestick, indicates more profit taking in coming weeks. It still the most outperformed index with 22.2% return YTD.

Shanghai SSE index was unable to hold above 3300 level after it broke it last week, retreated this week from the resistance. Major support is 3100.