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Sunday, July 14, 2013

Weekly Wrap

For the week, all my six indexes continue its rebound , it's an "all green" week. US markets are leading the rise, Nasdaq rose the most with 3.5% gain, while STI up 2.1%, HSI +2% and Shanghai rose 1.6%, close @2039 points, above its 2000 level. the weekly candles are bullish, indicating further upside move for coming week.

STI has three weekly green candles in a row, it closed at 3236 points for the week, firmly above its YEC level 3167 and also 2010 YEC 3190. I'm bullish as long 3167 YEC level can hold. Market is expected to move higher with next resistance at 3265 and 3312( both are 50% and 38.2% fib level for the recent correction).

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