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Saturday, May 9, 2015

Weekly Wrap

For the week, The US three major indexes are still consolidating in trend top range.

STI is in its 3rd week retracement, breakdown support 3465 but managed to stay above 3450. Weekly candle is bearish with no reversal signal yet.

HSI and SSE in their 2nd week retracement respectively. The weekly candles are bearish though major uptrend still very strong.

If the wall street maxim "Sell in May, Go away" were true, I think it will be good chance to buy on dip of HSI stock, in expect of launch of Shenzhen-HK connect in Oct.

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