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Saturday, October 17, 2015

Weekly Wrap

World major indexes are continuing their rebound this week.

Shanghai index gained the most with 6.5% up. It has recovered all its loss for this year, closed above 3235 YEC(year-end-close) level. The weekly candle looks bullish, expected it will move higher in coming week.

Hang Seng has recovered most of its loss this year but still below its YEC 23605 level. About another 600 points which expected to continue its rebound coming week.

Straits Times Index still way below its YEC level 3365. It dropped quite a lot, has plenty of room for rebound. Immediate 50% fibo level is at 3054.

In US, all three major indexes have had a nice bounce, all recovered more than 50% of their loss, which are expected to continue to move up.
(Refer to below indexes charts)

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