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Sunday, December 22, 2013

Weekly Wrap

For the week, US market three major indexes rebounded strongly from 2-3% gain. Dow was on top of the table with 3% gain. In Asia markets, STI gained 28.46 points or 0.9% to close at 3094.48. HSI and SSE lost 1.9% and 5.1% respectively. SSE lost the most among six indexes, as investors worried about China banks possible "money crunch" come back again.

STI had a green weekly candle for the week, after two weeks of sharp selling-off. It formed a bullish reversal candlestick pattern, which is a strong bullish reversal signal. Immediate target is 3167.

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