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Sunday, February 17, 2013

Weekly Wrap

In the week ended Feb 15, STI gained 12.8 points or 0.4%, closed at 3283.1 in only three trading days. HSI gained 229.4 at 23444.6 or 1.0%,  in only two days of trading after CNY. Shanghai stock still in holiday and will be start trading in coming week. The US three major indexes are little change after they hit multi-year high since 2007, all three indexes are near their historical high.

STI weekly is a inside-bar, which indicates indicisive/sideway, a break above or below the high or low of the bars would provide clearer direction. The immediate Support/Resistance are: 3300 and 3255.

As the US markets have already run up to their historical high, expected funds will focus on Asian market, where SSE have plenty of room to rebound, it will be positive for HSI and STI, especially the H-share and S-chips.

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