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Saturday, December 8, 2012

Weekly Wrap

STI added 37 points or 1.2% closed at 3017.11, weekly high is 3010.51, almost exactly equal to this year high 3010.86. STI has had three weeks green candles in a row so far, rose 161 points or 5.4% in total.

STI next target is 3190( Yr2010 close) if it can stay above current 3010 level.

US market, three major indexes DJI SPX and nasdaq all buoyant by good jobs data. The major uptrend channel are supported very well.

Shanghai SSE index reclaimed 2000 level, closed at 2061, up 4.1% for the week,
Hongkong HSI index up 0.7% in the week, hit its major downtrend channel at 22380 thereabout. Next target is 23035(Yr2010 close) if it were moved higher.

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