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Saturday, July 23, 2016

Weekly Wrap

US markets continue up, 4th week in a row now. DJI, SPX and Nasdaq YTD return are 6.6%, 6.4% and 1.9% respectively.

DJI and SPX hit new high after hit all time high previous week, Nasdaq is approaching its historical high. The US markets are the absolute leader in this bull run.

STI on its 4th week winning stream as well, hitting its major resistance 2950 now. A CLOSE above this level should trigger further upside move.

HSI closed the first time positive return for Yr2016, its YTD return is 0.2% now. The index looks bullish.

SSE unable to break 3052 resistance level and close down little bit this week, it's forming an ascending triangle as shown in below chart.

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