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Sunday, October 13, 2013

Weekly Wrap

For the week, major indexes rose after the US government good news from the debt ceiling negotiation. Among the six major indexes I monitored:

Shanghai index(SSE) gained the most with 2.5% or 53.48 points to close at 2228.15, reversed up from its 3-week retracement, bullish for coming week;
Straits Times Index(STI) gained 1.3% or 41.63 points to close at 3179.71, reversed up after hit its 4-week low, the weekly candlestick is green but was capped within previous big red candle( heavy selling-off). Direction is uncertain, will be up only got substantial buying force.
Dow Jones Index(DJI) weekly bullish reversal after it hit 14-week low, bullish for coming week;
S&p 500(SPX) bullish reversal after hit 5-week low;
Nasdaq( COMP) bullish reversal after hit 5-week low. Refer below table for major indexes weekly performance.

STI weekly chart, reversed up to above 3167 YEC, in between 3167-3190 now. Bulls and bears are fighting and it's not decided which camp will win.

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