After checking through the major market, my opinion is the market is still dominating by bulls, with no immediate signs of reversal. Below are the major indices charts:
S&P 500(SPX)
SPX bullish, it's in fact break up its previous major resistance slightly, with other major US indices bullish too. Weekly chart:
Hangseng Index(HSI)
HSI appears the same bullish patter as SPX, and even more bullish on last weekly candle.weekly:
Shanghai Index(SSE)
SSE just had a break-out from its major trend line last week, on its weekly chart, this is significant, it should continue it up run. Weekly chart:
Straits Times Index(STI)
STI runs a little bit fast than its peers and now has a resistance 3255 overhead, it's just about 10 points away from now. I will be cautious whenever STI hit major resistance level. But with US market and major regional market stay bullish, i think it will stay up or side way, no shorting yet.
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