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Sunday, March 11, 2018

Index Weekly Wrap for the Week of Mar 9

Stocks rebounded, all major indexes in my table below back to positive YTD return with 2.4% to 9.5%, except SSE closed exactly at its YEC level. VIX index dropped 11.49% on Friday to 14.64 which indicated traders are less worried and bullish on the markets.

US stocks are leading the rebound, especially Nasdaq($COMP) hit new high, the technology stocks dominated index very bullish.

In Asia, China SSE rebounded from its uptrend channel bottom line, and is expected for further rebound with first target level 3500, SSE has been lagging behind. The gap between SSE and other major indexes are expected to narrowing. Bullish on Chinese stocks.

Hang Seng HSI index rebounded from its YEC level(support), cleared its way for further upside.

STI rebounded from its intra-week low and left a long tail on its weekly candle, upside resistance is 3550 level which near recent top and also its upper trend channel line.

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