Weekly Wrap

For the week, it's "all green" for the major indexes, refer to below weekly indexes performance. For US, the DJI and SPX hit their all time high in the week with 1.6% and 1.3% gain respectively. The COMP(Nasdaq) has so far recovered nearly 80% of its fall (2000-2002)since the Internet bubble burst. The index weekly candles look bullish without any signs of reversal.

In Asia, HSI rebounded strongly after two weeks of retracement, with 1.9% up on top of the list. The weekly candle is bullish, expected more upside in coming week. The Shanghai index reversed after its two consecutive weeks fall, more rebound is expected.

STI gained 1.8% or 55.28 points at 3149.76 for the week. The weekly candle appears bullish, I'm looking for a target at 3167-3190 area and further upside at 3200 level.