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Sunday, October 29, 2017

Weekly Wrap for the Week of Oct 27

Major stocks continue going up this week, except that HK HSI index stayed in flat( has been in sideway consolidation for 3weeks so far in uptrending).

US stocks continue getting higher and higher in hope of tax cut reforms.

STI this week played catch-up and was the best performer with 1.4% gain, breakout new high, it's approaching its uptrend channel(resistance) 3430 now. In 4th week consecutive positive close.

China SSE index looks playing catch-up as well, it has plenty of room to upside, em bullish on the index.

Do take note that SPX is in its 7th month up consecutively, approaching its major upper channel line(resistance) drawn since the bottom of 2009, the market has had extend up-run by now.

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