Weekly market analysis covering Singapore, US, Hong Kong and China — stocks, REITs, ETFs and trading perspectives.

Sunday, October 13, 2013

Weekly Wrap

For the week, major indexes rose after the US government good news from the debt ceiling negotiation. Among the six major indexes I monitored:

Shanghai index(SSE) gained the most with 2.5% or 53.48 points to close at 2228.15, reversed up from its 3-week retracement, bullish for coming week;
Straits Times Index(STI) gained 1.3% or 41.63 points to close at 3179.71, reversed up after hit its 4-week low, the weekly candlestick is green but was capped within previous big red candle( heavy selling-off). Direction is uncertain, will be up only got substantial buying force.
Dow Jones Index(DJI) weekly bullish reversal after it hit 14-week low, bullish for coming week;
S&p 500(SPX) bullish reversal after hit 5-week low;
Nasdaq( COMP) bullish reversal after hit 5-week low. Refer below table for major indexes weekly performance.

STI weekly chart, reversed up to above 3167 YEC, in between 3167-3190 now. Bulls and bears are fighting and it's not decided which camp will win.

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