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Saturday, April 6, 2013

Weekly Wrap

For the week, all six indexes which I monitored are in red. DJI lost the least 0.1% and HSI was the the worst with 572 points or 2.6% down.

STI dipped below 3300 on close, after it spiked to as high of 3331.26 on Wed. The bearish HSI and China bird flu H7N9 spread made market jittery. It seems 3300 resistance is very strong for the index to cross above. If it can't cross above it, then another two options: sideway or drop. We should be cautious on long positions now. The immidiate support is at 3260.
Another important even for this week, Japan's move to follow Fed on monetary stimulus pushed Tokyo stocks higher. (click HERE for report).

USD/JPY on the strong uptrend.

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