Weekly Wrap

STI posted biggest lost in over four months time( since May 2012) this week. It closed 3041.75, down 66.12 or 2.1%. Weekly candle looks very bearish( what is the Japanese Candlestick pattern?) However, STI managed to come back into my range 3088-3035 on close. So a close below 3035 will be first sign for further downside, otherwise I will continue focus on the range 3088-3035 "buy low sell high". The are few support level on the downside to watch if it were to drop: the inverse head and shoulder ( refer to my two post back) level 3030 and 3000.

For US market, DJI closed at 13326.39, down 283.76 or 2.1% for the week; SPX closed at 1432.84, down 28.09 or 1.9% for the week.

Hongkong and Shanghai market rebounded and closed positively for the week, HSI closed at 21136.43, up by 124 points or 0.6%, Shanghai closed 2104.9, up 18.7 or 0.9% for the week.