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Saturday, April 28, 2018

Index Weekly Wrap for the Week of Apr 27

US stocks three major indexes have been in sideway consolidation for 6weeks, the technology dominant Nasdaq index(COMP) has been the best performer with 3.1% return YTD. SPX closed same level as where it started this year, stayed flat, DJI lost 1.7% this year. All three indexes are above their respective major uptrend line, and expected to rebound in coming week(s).

In Asia, STI index has been performed unexpectedly great. It's the best performer in my table below with 5.1% YTD return, phenomenal. The three local banks led the index recorded 5week up in a row. It's now just points below year high 3611.69 on Feb 2,2018.

HSI has been consolidated just above its YEC level 29919 since Mar, keep bullish bias view as long it can hold above the YEC level. SSE has been weak, always. Watch 3000 level as major support.







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