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Saturday, October 22, 2016

Weekly Wrap

US stocks ended the week with little change, hovering their key support level with no clear direction, though major uptrend still well intact for all three US indexes.

STI rebounded 0.6% after previous week flush down. It is now just above 2800 key support level but just beneath its major ascending line. Indecisive. A break below 2800 would be a clear bearish sign, otherwise 'em stay bullish cautiously. Immediate resistance is 2882YEC.

HSI had only 4 trading days this week due to typhoon. It's up by 0.6%, in uptrending consolidation mode now. The index is the top performer with 6.7% gain YTD. Whereas SSE still the worst performer with 12.7% loss YTD. SSE is on bullish tone, trading above its key support 3000 level.

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