Weekly/Monthly Wrap

Last week, STI gained 49.5 points or 1.5%, closed at 3308.1 --- best performer among the six major indexes I'm monitoring, Shanghai index(SSE) was the worst performer which lost 91.7 points or 3.9% last week, worried about China property curb measures.

In the big picture, STI last week close was the highest weekly close since Jan 4, 2008. It has been trading in the range 3300-3260 most of the time for the past two months, hitting 100% fib resistance level 3307 now. The index still could move higher only when it closed above this level.

Below table is the monthly performance for major indexes. For the month of Mar, DJI gained the most, up 3.7%, Shanghai was the worst performer with 5.5% lost. STI gained 1.2%.