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Saturday, October 18, 2014

Weekly Wrap

For the week, it's a sea of blood. US markets had a huge spike down but recovered on Fri. DJI had rallied 263 points on Fri, first day up after six days consecutive down. Left a super long tails on its weekly candlestick. Do watch out see if 16380 key level can be held in coming week.

STI closed at 3167 marks, which is same figure from where it started this year. It has given back all its 2014 gain so far. 3167 level is also the 50% level of its high-low as shown in below chart. Do watch out for 3167 level as key support in coming week(s). The next major support is expected to be the ascending line at 3095 level if 3167 failed. Its weekly candle looks bearish.

HSI close level on Fri already below its 2014 start 23306. we shall see if it can rebound back above 23306 in coming week. Given the possible Shanghai-Hongkong Connect is expected to be launched soon.( No exact date yet).

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