Weekly Wrap

US market rebounded on Friday, after  four days consecutive down. The DJI up by 100 points to closed at 13157. The broad market index SPX gained by 9 points to closed at 1411.

However, for the week, DJI still down 117 points, while SPX lost 7 points. Both indices showing a red weekly candle, after six weeks green in a row. Both indices are at their "top" of the trend, facing immediate resistance overhead, it can turn head north anytime but it still early to confirm the uptrend is over. Both indices uptrend are still intact.

As for STI, it has been in the sideway manner over past two weeks, consolidation phase. I'm bullish as long it stays above 3000 support  level. Next target is 3190.