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Saturday, May 30, 2015

Weekly/Monthly Wrap

All indexes in my table below are red(negative) for the week. Nasdaq lost 0.4%, DJI -1.2%, STI-1.7% and HSI -2%, lost the most.

The US three major indexes have been trapped within a trading range for the past four weeks- in sideway trading.

Over in Asian markets, the Shanghai index and HSI have been very volatile in past two weeks. SSE formed a Spinning Top weekly candle, which is a toppish sign but need confirmation following week.

STI had a ugly black weekly candle, indicated this selling is hard. Immediate support is at 3365 thereabout.

The major uptrend are still well intact for SSE, HSI and STI. For bulls, the retracement provides buy opportunities.

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