First week of 2014, major indexes retraced. In US, Dow lost 0.1%, S&P 500 lost 0.5% after hit new all time high previous week, Nasdaq lost 0.6%, after it has recovered almost 80% of its lost during Internet bubble since 2000yr. The three indexes are is nice uptrending with no signs of immediate retracement.
In Asia, STI lost 0.6%, Shanghai lost 0.9% and Hang Seng lost 1.8% for the week.
STI weekly chart below, it retraced this week after hitting
3167-3190 resistance zone(weekly high 3187.8) as I alerted in my previous weekly wrap. The weekly candlestick looks bearish, sellers are dominating the market now.
My bias is to downside unless the index can close above 3190 for mid-term.
Dec 2013 indexes performance table as below, the bulls and bears divided clearly between the US and Asia. The three US indexes added from 2.4% to 3.0% in Dec, whereas the lost from 0.3% to 4.7% for the three Asia indexes.
The year 2013 finally came to an end. Below table shows major indexes performance in the year 2013.
Nasdaq added 38%, awesome. S&P 500 and Dow added 30% and 27% respectively, it was a great reward year for those who invested in US.
Whereas for the three indexes STI, HSI and SSE, the performance were so pale for the year. HSI added 3%, STI no change, and SSE lost 6.7%-the worst index.
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