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Monday, August 1, 2016

Weekly Wrap For the Week of 25-29 Jul

World major indexes retreated for week 30th.

STI lost the most for 2.6% or 76.66 points, it hit 2950 and spiked though for few times but unable to hold above it, ended with sell-off hard, closed below YEC 2882 benchmark level. YEC 2882 level is a very important level to watch closely in coming week, bearish if it can not be hold.

US three major indexes are in bullish trend, DJI and SPX retraced for the week, probable profit taking after hit all time high.

HSI and SSE are in short term uptrend channel(rebound), immediate support for HSI ans SSE are 21630 and 3060 respectively.

Weekly charts for major indexes are in below.(click chart to enlarge)

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