US stocks rebounded on president Donald Trump's inauguration day. DJI ended its 5 days decline and gained nearly 100 points on Friday. US stocks uptrending well intact so far. All markets closed lost a little bit on this week, except Shanghai index(SSE) which closed 0.3% gain.
STI chart looks bullish, might be profit taking in coming week but bulls are obviously in charge.
Hang Seng (HSI) chart bullish bias as well. Please refer to below weekly charts for major indexes.
In the US markets, SPX and DJI closed within their 5-week consolidation range, whereas the technology index COMP continue moving up, hit new high.
Local index STI had a great start in first 2 weeks of 2017, gained the most with 5% positive. HSI has had 4.3% in the same period as well, not too bad. Shanghai index continue stay flat in first 2 weeks, being the worst performer so far.
STI next major resistance area is 3050-3100 area. The index poised to move higher this year. Chart looks very promising.
Weekly, monthly and indexes performance for the year 2016 as in below tables. For the year, Dow Jones Index(DJI) gained the most for 13.4%, and Shanghai index(SSE) was the worst performer with 12.3% loss.
From the first table, we also can see the US three markets are outperform the three in Asian, indicating investors were looking good on the US economy and thus prefer putting money there for higher return.
Dear readers, Merry Christmas and Happy New year to you and loved ones.
We are left with one more week to end this year 2016. It's noted that STI dipped below its YEC level 2882 this week, and HSI also went underwater its YEC level 21914. Made both of the indexes negative return YTD. Whereas SSE posted -12.1% YTD return,--the worst performer still.
US stocks on the other hands all returned positive, the three major indexes gained 9%-14% YTD. We can see clearly that US stocks broadly outperformed Asian markets, funds are flowing into the U.S. It should be the same as for other emerging markets as well.
Major indexes weekly performance as in below table.
This isn't investment advice. So don't be calling up your lawyer. I'm just talking about my own views of the market. Got it? Your decisions are your own. I'm just exercising my right to free speech in this great land of ours. By reading this blog, you agreed that I am not responsible for your trading.