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Sunday, December 3, 2017

Index Weekly Wrap for the Week of Dec 1 and Nov Monthly Index Performance

For the week ended Dec 1, world major indexes close mixed. In US, DJI and SPX hit fresh new high and tech heavy index COMP soften a bit by profit taking, the three US major indexes uptrend in good shape, bulls are in absolute dominant. The buying up in DJI and SPX accelerated.

In Asia, HSI and SSE took a tumble with 2.7% and 1.1% decline respectively. From their weekly chart below, HSI spiked up beyond its upper channel in previous wk and was pull back closer to its uptrend channel range by profit taking, SSE is in 3rd week retracement back to its uptrend channel bottom line(support), both indexes uptrend are still intact.

For STI, it's bullish, trading at its upper trend channel line now, approaching to its 3yr top 3549.85 level.

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