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Sunday, November 27, 2016

Weekly Wrap

All three U.S major indexes hit new highs this week. Bulls are in charge. U.S stocks are in 3rd week rally. No signs of look back so far.

Asian major indexes, HSI rebounded this week, resumed uptrending after recent retracement. Major uptrend channel holding well. It's expected the Shenzhen-Hongkong connect will be kicked start in coming month. HK stocks trading activities will be boosted definitely.

SSE continue its rebound this week, slow and steady, have recovered 2/3 of its YED loss so far, narrowing its loss to 7.8% YTD.

STI was the second index has a negative YTD return, with loss of 0.8%, It rebounded 0.7% this week to its short term down trending channel( red lines in below STI weekly chart). Immediate resistance is 2882YEC(Yea-End-Close), and 2790 is the key support level.

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