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Sunday, July 19, 2015

Weekly Wrap

For the week, Nasdaq hit new historical high of 5210.14, as tech giant GOOG jumped 16.1% on Friday.

SPX and DJI also bounced to range trading top.

STI rebounded back to near 3365 level this week, after it hit low of 3250 last week. It has been in range trading for six weeks already, watch 3365 level as early indication for more upside.

HSI rebounded to close at above 25000 mark this week, good sign of market recovery. Next level to look is 26000 level, many blue chip are at attractive valuation for HK. Look for facebook group for more updates.

Shanghai(SSE) gained 2.1% this week, it seems the panic selling has been stabilized by now, bulls should be slowly return after breath. Major uptrend is still intact as long its 200ma at around 3400 is held.

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