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Saturday, May 27, 2017

Weekly Wrap for the Week of May 26

US stocks hit new high this week, DJI rebounded and hit 3mth new high after recent pull back, both SPX and Nasdaq hit all time new high. US stocks in nice uptrending.

Sell off in STI was much controlled this week after 1.2% drop previous week. Immediate support is 3190, the index uptrend has been well intact.

HSI continue goes up and hit new high this week, the index is very bullish. Shanghai index had a vigorous fight between bull and bear over past three weeks. It looks bulls managed hold up the key support level 3100, expected further rebound as long it stand above 3100 level.

Weekly index performance table and weekly charts as follow:

Saturday, May 20, 2017

Weekly Wrap for the Week of May 19

U.S stocks dropped this week, and the rest of world followed. Nasdaq(COMP) close negative for the first time after four weeks consecutive up, whereas the S&P 500(SPX) and Dow Jones(DJI) declined for 2nd week. All three indexes are in nice uptrending, no signs of immediate trend change despite of Mr Trump's recent presidency turmoil.

STI down first week after three consecutive week up, immediate support level to watch is 3190, upside resistance 3275 level.

HSI has been trending up well, Shanghai(SSE) is the weakest among the six major indexes, the only index had negative YTD return.

Weekly performance table and weekly charts are as follow:

Sunday, May 7, 2017

Weekly Wrap for Week of May 5

U.S stocks in nice uptrending, three major indices closed at record high for the week. Technology dominant index Nasdaq index($COMP) had highest YTD return so far with 13.3%, whereas local index Straits Times Index also recorded 12.1% YTD return come in second.

STI had a bullish breakout this week after eight weeks consolidation, hit new high with biggest weekly gain of 1.7%. It's expected the index to go up further with next major target at 3365 level.

HSI retreated this week but overall uptrend still well intact, Shanghai Index ($SSE) on the other hand, traded on its own in downwards momentum, closed 4th week negative to its 2016 YEC 31003.

Major indexes weekly performance and weekly charts are seen in below.

Saturday, April 22, 2017

Weekly Wrap

For the week ended Apr 21, US stocks look still in good shape-sideway consolidation in uptrend. Asia major three indices in my table below look much weaker, HSI and STI look losing steam in bull run, Shanghai index was sold off hard this week to its major uptrend line.

STI immediate short term support is at 3112 level, and upside resistance is at 3167 level. Major support at 3050 if it continues retrace in coming week. 

Sunday, April 16, 2017

Weekly Wrap

Major indexes all dropped ahead of long weekend, investor also nervous about the rising nuke tension in the Korea Peninsula. The so-called "Fear Index" VIX index surged 24% this week to 15.96, highest since Nov 2016, an indication of increasing short positions.

Investor may take this opportunity to take cash off the table from market run up over past few months. Major indexes weekly performance as in below table.

Saturday, April 8, 2017

Weekly Wrap

For the week ended Apr 7, US three major indexes close flat mostly. Local STI and HSI edged a little bit higher, Shanghai index was the best performer with 2% gain.

STI still in good shape of uptrend, there is still some room to upper channel line as in its weekly chart below. Shanghai is poised to move higher, to catch up to its peers, plenty of room to upside.

Weekly index performance and charts as in below.

Saturday, April 1, 2017

Weekly/ Monthly Wrap

It's the end of this week and also the end of first quarter. On weekly basis, Nasdaq is the best performer with 1.4% gain, STI added 1% as second.

For the first quarter of this year, STI outperformed all major indexes with 10.2% gain, Nasdaq and Hang Seng following with 9.8% and 9.6% gain respectively. The least gainer is Shanghai index, which has had 3.85 gain.

 Index performance for the month of March.