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Sunday, March 25, 2018

Index Weekly Wrap for the Week of Mar 23

A week of bloodbath for world stocks, as the US-China trade war getting cloudier. US three major stocks indexes among the worst performers, lost 5.7% to 6.5%. DJI and SPX's profit this year were wiped off in one week and slapped to negative territory. From technical perspective, Nasdaq($COMP) close on its major uptrend support line and SPX and DJI both closed below their respective major uptrend lines.

In Asia, Hang Seng weekly chart still looks good. Retraced to its just above its YEC level 29919(support).

STI was selloff from its uptrend channel line resistance and just above its YEC level 3402 too. Shanghai index (SSE) broken its uptrend channel line for 2nd time, dropped to near its previous low, to watch major support level at 3100 in coming week(s).

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