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Sunday, September 15, 2013

Weekly Wrap

For the week, major indices gone up, with Shanghai index rose the most of 4.5% or 96 points at 2236. Hang Seng index rose least with 1.3% or 294 points at 22915. Straits Times Index added 2.4% or 72 points for the week at 3120. Refer to below table for indices weekly performance.

FOMC meeting announcement will be on coming week Sep 18 2pm ET, Singapore time Sep 19, 2am. It's expected Fed bond buying will be cut to 75billion USD from 85billion USD. Market may react to that or a non-event. We will see...

The Dow and SPX hit four weeks high, the weekly candle are very bullish, Nasdaq hit 7 weeks high, a solid breakout from its past 6 weeks consolidation.

SSE high of the week at 2270, at its last year close(YEC) but closed at 2236 points. It has been up by two months so far.
HSI closed in between its 2012 YEC 22657 and 2010 YEC 23034, hit its nine months downtrend line.

STI continue rebound from its prior week, bullish weekly candle, I see still got plenty of room to upside, next target is its 2012 YEC at 3167.



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