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Saturday, January 30, 2016

Weekly Wrap

Weekly and Monthly indices performance as in below table.

US markets rebounded as expected in my previous weekly wrap, the three major indices closed sharply higher on Friday. DJI jumps up 396.6 points and SPX plus 46.88 points.

Friday's surge came following Japan's surprise interest rate cut to negative territory.

US indices are up for second consecutive week. SPX next target is its 50% fibo level at 1992.

STI closed first week green after three weeks red. Next target is 2700.

Shanghai index hit new low this week, also its lowest since May 2014. It's the only one in red this week with another 6.1% down.

 So far all major indices still in red this year, YTD change also indicate Jan's performance. SSE down the most in Jan with 22.6% loss, HSI -10.2%, the rest lost from 5-8.8%. The beginning of new year are all in red. Hopefully it will turn to good end of the year.

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