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Sunday, May 26, 2013

Weekly Wrap

Hello everyone, I'm back. The holiday is a great recharge and I'm ready for more.

It seems the major indexes are in retracement mode last week. The three US major indexes dropped last week, after four consecutive up. In Asia, Shanghai had four consecutive weekly green candles, while STI dropped 56 points or 1.6% last week after five consecutive weeks up. HSI posted big drop for 2% as well.

STI closed at 3393 last week, the weekly candle looks pretty bearish, major support is 3320 if it were continue drop.

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