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Saturday, November 12, 2016

Weekly Wrap and Oct Index Performance

Finally U.S elected their president, and Mr Trump's crisis on stocks only last one day in Asia. U.S stocks in fact surged to new high right after election trading. DJI hit new historical high this week, whereas SPX and COMP rebounded back near to their historical high. Surprised to majority, stocks hate uncertainty but not Mr. Trump.

DJI surged more than 5% this week, SPX and COMP both added 4% as well. In Asia, Shanghai index gained the most with 2.3% up, it hit new high since Jan 2016, showing steady recovery though its YTD loss still the most at 9.7% down.

The second worst performer is STI which has negative 2.4% YTD return. STI key support level to watch is 2800, and resistance is 2882YEC level.

HSI had a spike down to its ascending channel bottom line then rebounded, uptrend is well intact.
Major indexes weekly charts as in below.
 Index monthly performance for the month of October.

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