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Saturday, April 21, 2018

Index Weekly Wrap for the Week of Apr 20

US indexes DJI and SPX are up by 0.4% and 0.5% respectively this week, but both are still "underwater"-negative YTD return. DJI lost 1% YTD and SPX lost 0.1% YTD. The technology dominant Nasdaq(COMP) is the best performer among the three, with 3.5% YTD return.

STI was the best performer this week with 2.1% stunning gain, thanks to the three local banks led the charge. The index hit 3600 level this week but closed 7points off the level. The weekly chart looks bullish.

Another two Asia major indexes HSI and SSE both closed in red, while HSI is consolidating just above its YEC level 30000, this level continue to be the key support level to watch in coming week. SSE shows a more bearish chart, it was trading below major uptrend channel, just broken 3100 support level and next key level to watch is 3000.

Refer to below details weekly charts for technical analysis.

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