Weekly and Monthly Wrap

For the week, US three major indexes continue up, with 1% to 1.4% gain. SPX hit new historical high, bulls are in absolute domination.

Asian markets are relatively quiet, HSI followed US rebound, rose by 1.2% last week, STI slightly up by 0.4%, but Shanghai market lost 2.7%--heavy sell-off.

STI weekly chart as below, it appears there are room for upside with first target at its upper downtrend channel 3150. Then the major resistance 3167-3190( which is its YEC for 2013/2012 and 2010).

Feb Wrap: 

Overall, major indexes had positive gain from 1.1% to 5% in Feb. 

 STI monthly chart loos bullish with more upside expected.