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Sunday, February 2, 2014

Weekly/Monthly Wrap

Happy CNY to all SgTraderClub readers, Gong Xi Fa Cai!

Many of Asian markets had only four trading days as we are celebrating our holiday. However, the major stock markets in the world have been experiencing a heavy selling-off towards the festival season. The markets don't look good for bulls at all.

For the week ended Jan 31, SSE lost 0.2%, while HSI lost the most for 1.8%. The US three major indexes turned to 2nd week loss as well. The just ended FOMC decision on continuing QE tapering affected whole stock market sentiment. It might be a down-turning point for US uptrending.


STI closed at 3027.22, lost 48.77 or 1.6% for the week, it broke below what I believed one key support level last week--3065. It appears to me more bearish than bullish for the trend and it's expected to go down further for mid-term. 

Below table is monthly index performance for Jan. Nasdaq lost 1.7% on top of the table, SSE-3.1%, SPX-3.6%, STI-4.4%, DJI-5.3%, HSI-5.5% at the bottom of the bottom. 

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