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Saturday, October 26, 2013

Weekly Wrap

For the week,US market continue its bullish run. All three major indexes rose, Dow and S&P 500 had its 3rd week rebound in a row, while Nasdaq had its 6th weekly green candlestick, hit new high this week again. In comparison, Asian stocks have been obviously weak, indicating outflow of funds continues. Shanghai stocks lost 60.83 points or 2.8% for the week to close at 2132, the weakest index.

STI gained 12.34 points or 0.4% to close at 3205.24, the weekly candlestick is a doji, indicating market was indecisive of upside/downside move. For coming week, to monitor immediate support 3200 and resistance 3265 for early direction. Refer to below table for major indexes weekly performance.

STI weekly chart.

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