Weekly Wrap

In the first week of Sep, world major indices rebounded after a down month of Aug. Stocks rose for the week for indices I monitored in below table, HSI being the most bullish market with 4.1% gain, while STI added 0.6% or 19.41 points, is the least gainer.

STI rebounded a bit last week, closed at 3048. The market was cautious to further downside, bullish momentum was weak. The index was supported by 3000 level so far. I will be more bullish if the index can cross above 3065 in coming week, more bearish if it dropped below 3000.

STI weekly Chart

HSI added 889.8 or 4.1% last week, closed at 22621.2, just beneath last year end close 22657 level. The weekly candlestick looks very bullish. 

HSI weekly chart: