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Sunday, January 12, 2014

Weekly Wrap

For the week, major indexes performance as below table. Nadaq gained the most for 1%, whereas Shanghai index lost the most for 3.4%.

 S&P 500 is at its long term uptrend channel top( resistance), possible heading for downside retracement in coming weeks.
STI had a very bearish weekly candle in previous week but it did not drop down further, instead formed a doji for the week. I see some buying support at current level, with upside resistance at 3167-3190, immediate support at 3020.

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