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Sunday, June 3, 2018

Index Weekly Wrap for the Week of Jun 1

US stocks rebounded on Friday, COMP and SPX closed green but DJI still lost 117 points this week and 0.3% underwater YTD. COMP has been the best performer YTD with 7.7% return, on the other hand, the worst performer has been SSE which lost 7%. The three US major indexes uptrends are still intact, COMP is way above its major uptrend line, SPX and DJI tested their major uptrend lines respectively and rebound from there.

In Asia, both HSI and STI retraced down for 3rd week but still within major uptrend channel. SSE was trading one the edge of its low line this year, drop in 2nd week.

For STI, immediate support is at 3400 which is 250dma and resistance is 3500 should it rebound in coming week.

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