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Saturday, August 1, 2015

Weekly Wrap

For the week, US three major indexes lifted a little up. SPX and DJI rebounded from trading range bottom. Nasdaq uptrend is well intact.

Over in Asia, the three major indexes SSE, HSI and STI under heavy selling especially for STI and and SSE.

STI had its biggest fall 4.5% since Yr2011. It hit its major uptrend line since yr 2011, major support is at 3190-3167 area. It's expected there is a technical rebound in coming week, after this week's bloody sell off.

Shanghai SSE resumed its sell mode after three weeks rebounce. Market may test its recent low around 3415 level then rebound.

HSI fell below 25000 level and hit its major uptrend line as shown in below chart. Expected a rebound in coming week.



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