Major indices performance in the week:
DJI: closed at 12640.78, -126.39 or -1%
SPX: 1335.02, -7.82 or -0.6%
HSI: 18995.13, -238.8 or -1.2%
SSE: 2260.87, -45.97 or -2%
STI: 2828.09, +17.09 or 0.6%
STI is the only market closed positive last week among the above major indices. DJI and SPX are stayed well within its uptrend channel. STI open gapped down to 2800 support and rebounded on Friday. Immediate resistance is at 50% fib level 2860, then 2900 is the major resistance.
Market is rather tricky these days, the key point is to watch the important levels, do "fishing", don't chase the fish.Market is always fluctuating.
Below are DJI, SPX, and STI weekly chart.
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