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Saturday, November 1, 2014

Weekly/Monthly Wrap

World indices react positively and surged up after Bank of Japan(BoJ) announced to expand its stimulation plan on Friday.

Oct 14 just ended, below table shows the monthly indices performance. HSI was the most bullish index, with 1065 points or 4.6% up. HSI is expected to move up further with 25k for immediate target.

Shanghai added 2.3% to CLOSE above 2400, FIRST time in 32 months( since Feb 2012). It's the 6th consecutive month up so far. It's remarkable.

The US three major indices DJI, SPX and COMP added 2.0%, 2.3% and 3.1% respectively. The DJI and COMP hit new high whereas SPX is at its historical high.

STI, on the other hand, is the one and only index closed in red for Oct, albeit little down with 2.5 or 0.1%.  STI immediate resistance is at 3277-3300. More upside is expected IF it can stay above this area.

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