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Saturday, July 25, 2015

Weekly Wrap

US market closed down on Friday. The US three major indexes DJI, SPX and COMP closed in red this week, DJI and SPX gave back their whole previous weekly gain, whereas COMP gave back most of its prior weekly gain.

The DJI and SPX have been trading in sideway since beginning of the year, it appears to me they are loosing steam slowly. Only tech-dominated COMP in upward trending. DJI closed below its 200-ma again, which is a bearish sign.

Shanghai index SSE rebounded 2.9% for the week, major level to watch is at 4208 level which is a main resistance level now. Bulls should dominate the market again if the index can reclaim 4208 level, otherwise the sentiment will be still weak.

STI hit above 3365 level this week but unable to hold above it, closed at 3352. Keep watch 3365 as major resistance level for STI.

HSI is down a little this week but still above major support 25000 level. Bulls are in charge as long it can stay above this level.

1 comment:

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