Weekly Wrap

STI closed at 2945 for the week, lost 63.93 or 2.1% at four months low. The drop seems not  going to end so soon-- its weekly candlestick looks bearish. In fact, it just broken 3000 in the week. more downside is expected.

Below chart is STI the three fibo support levels to watch:
1) 38.2% @ 2953 (already broken)
2) 50.0% @ 2904
3) 61.8% @ 2856


For the US market, in the week:
DJI closed at 12588, lost 227 or 1.8%;
SPX closed at 1359, lost 20points or 1.4%;
Nasdaq 2853, lost 51 points or 1.8%
DJI broken its long term major uptrend, where both SPX and nasdaq are just touched their uptrend line. In the coming week, watch 50% fib level for possible rebounce.

HSI hang seng index closed at 21159, lost 225 points or 1.1%, continue its retracement after bearish wk candlestick seen last week, support level to watch is 50% @ 20500 in coming week

SSE shanghai index closed at 2014 , lost 54 points or 2.6%, SSE is just above its 2000 points, will it dip below 2000 points again within three months again?