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Sunday, December 28, 2014

Weekly Wrap

It's a shortened week as many markets celebrated Christmas holiday. For the week, STI had 2.3% or 74 point gain on top of the list below. Other markets are also in green, we are into year-end window dressing period now.
DJI and SPX hit record high, STI crossed 18000 level for the first time in history. Marvelous.
 Still look good on China market, Shanghai index approaching its technical resistance level, it may consolidate in short run to give bulls a breath before run up again.
 STI closed at 3353.68, just beneath its resistance level 3360. The weekly candle is very bullish. Market may be dressed up for year end in coming week. Index stocks such as the banks DBS, OCBC, UOB, other counter SIA, kepcorp are in focus.

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