Many of Asian markets had only four trading days as we are celebrating our holiday. However, the major stock markets in the world have been experiencing a heavy selling-off towards the festival season. The markets don't look good for bulls at all.
For the week ended Jan 31, SSE lost 0.2%, while HSI lost the most for 1.8%. The US three major indexes turned to 2nd week loss as well. The just ended FOMC decision on continuing QE tapering affected whole stock market sentiment. It might be a down-turning point for US uptrending.
STI closed at 3027.22, lost 48.77 or 1.6% for the week, it broke below what I believed one key support level last week--3065. It appears to me more bearish than bullish for the trend and it's expected to go down further for mid-term.
Below table is monthly index performance for Jan. Nasdaq lost 1.7% on top of the table, SSE-3.1%, SPX-3.6%, STI-4.4%, DJI-5.3%, HSI-5.5% at the bottom of the bottom.
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