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Sunday, February 23, 2014

Weekly Wrap

For the week, STI rose the most, with 61points or 2% up to close at 3099.93. HSI added 1.2%. While in US, the three major indexes in mixed direction. SPX hit resistance 1848( also year close), DJI retreated with 51pts down. However, technology index continue climbs higher, COMP added 0.5%.

STI weekly chart for its forest picture, despite of recent two weeks rebound, it is still in down trending with a series of lower high(LH) and lower low(LL), it hit its major downtrend line of resistance this week at 3100, expected limit upside with resistance overhead Resistance zone at 3120-3150, if it broke above 3100 in coming week. At the same time, I'm waiting fro a MACD hitogram "red" after many "Green"s in its daily chart(not shown in chart).

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