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Saturday, May 27, 2017

Weekly Wrap for the Week of May 26

US stocks hit new high this week, DJI rebounded and hit 3mth new high after recent pull back, both SPX and Nasdaq hit all time new high. US stocks in nice uptrending.

Sell off in STI was much controlled this week after 1.2% drop previous week. Immediate support is 3190, the index uptrend has been well intact.

HSI continue goes up and hit new high this week, the index is very bullish. Shanghai index had a vigorous fight between bull and bear over past three weeks. It looks bulls managed hold up the key support level 3100, expected further rebound as long it stand above 3100 level.

Weekly index performance table and weekly charts as follow:

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