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Saturday, March 19, 2016

Weekly Wrap

STI: for the first time in the year, STI closed higher than last year 2015. As long STI can stay above its YEC 2882 level, bulls are going to continue run up from now on.

The impacts are obvious, those big boys--funds are rushing into market to buy blue chips over, pushing the index higher as the benchmark index are now "overweight", Index stocks especially the three banks surged up for the week.
OCBC +5.3%,
DBS +5.1%
UOB +3.4%

DJI added another 120 points on Friday. US three major indexes are one their five-week win streak.
DJI next major resistance is at 18,000 level. SPX hit 2050 downtrend line, next major resistance level is 2100.

SSE added 5.2% for the week, is breaking out from its six-week trading range now. More upside is expected once the bottom consolidation is over.

HSI is already started its rebound mode this week.

The three indexes trading higher than last year are: STI, DJI and SPX.




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