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Saturday, April 14, 2018

Index Weekly Wrap for the Week of Apr 14

US stocks rebounded this week, despite Friday's night drop. The technology dominant Nasdaq ($COMP) rebounded 2.8% near its YEC close level, bring total return to 2.9% YTD. But the SPX and DJI both are still under water for their YTD return, with 0.6% and 1.4% loss respectively.
All three indexes major uptrend are well intact. As seen from below weekly charts.

Over in Asia, HSI is the stongest performer, with 3% YTD return, STI following on 2nd spot with 2.9% YTD. STI had its 3rd week up in a row, very bullish. Major resistance at 3550 and technical support level at 3400 level.

Shanghai index ($SSE) was unable to rebound back above its uptrend channel after 4weeks, so I shifted the uptrend channel to its original position, to show that a breakdown of the uptrend channel, which indicate the index is weak. Immediate support level is 3100 and resistance 3200 level.








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