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Sunday, October 20, 2013

Weekly Wrap

For the week, major indexes rebounded after the US government settles debt limit saga.

Nasdaq rose the most with 3.2% or 122points gain. new year high.
S&P and Dow also had 2.4% and 1.1% gain. But Asian markets Hang Seng, STI and Shanghai didn't react much on the news. Hang Seng added 0.5%, STI 0.4% up and Shanghai lost 1.5% for the week.
The funds seem continue flowing out of Asian market and back into US.

STI closed at 3193 this week, just above 3190 YEC and 3167 YEC. The weekly candles shows bulls not strong but still in control. I'd rather bullish bias than bearish.
STI major resistance 3165; major support 3190-3167.

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