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Saturday, July 2, 2016

Weekly Wrap

All major indexes in below table have been fully recovered their loss in one week post Brexit.

STI had most gain in the week for 4.1%, Nasdaq, SPX and DJI all had 3.3%, 3.2% and 3.2% respectively. Shanghai and HK had 2.7% and 2.6% weekly gain respectively.

Year-to-date, SPX and DJI closed positive again after it dipped negative for Brexit. STI still negative1.3% YTD, whereas Shanghai deep underwater for 17.1% YTD.

STI immediate resistance is overhead 2882 YEC level, major support at 2715.

HSI uptrend channel has been tested and well intact by now as in below chart, SSE bottom consolidation with upside rebound bias.

SPX has been trading sideway consolidation in the range of 2110-2040.

Markets turns to bullish.

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