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Sunday, January 15, 2017

Weekly Wrap

In the US markets, SPX and DJI closed within their 5-week consolidation range, whereas the technology index COMP continue moving up, hit new high.

Local index STI had a great start in first 2 weeks of 2017, gained the most with 5% positive. HSI has had 4.3% in the same period as well, not too bad. Shanghai index continue stay flat in first 2 weeks, being the worst performer so far.

STI next major resistance area is 3050-3100 area. The index poised to move higher this year. Chart looks very promising.

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