Weekly Wrap

This week is a shortened trading week as Singapore, HK and China are witness CNY festival.

Markets are relatively quiet for SG, HK and China. STI has been consolidating just below 3450 resistance level for two weeks already. The index uptrend is well intact, a close above 3450 would indicate further upside move or it may retrace down in coming weeks.

Happy CNY

Dear Readers,

Wish you happy CNY and Enjoy your holiday!

Weekly Wrap

Major indices weekly performance: Shanghai Index(SSE) rebounded with 4.2% gain for the week, $COMP had very bullish weekly breakout candle, hit new high since 2000 internet bubble(5132 points is its all-time high).

Expected STI, SSE and HSI will be quiet in coming week as shortened trading days for CNY holiday.
Coming week, STI will be closed for holiday on Thur and Fri, Wed half day trading until 12.30pm.
HSI will be closed on Thur and Fri too, SSE will be closed for holiday from 18 Feb to 24 Feb, resume trading on 25 Feb.

 STI hit 3450 resistance this week, expected it will be sideway consolidation or retracement in coming weeks. The index has been in uptrending so far.

Singpost Retraced to Support Level

Long candidate: Singapost
Singpost retraced to 1.98 support now, after it hit all time high of 2.16 recently.

Entry: 1.98

Stop: below 1.97
Target: 2.15

STI looks Losing Steam

Long Candidates

CapitaRchina: retraced down from 1.73 to current price 1.63, which is support level.
Entry: 1.635
Stop: below 1.62
Target: 1.705

 GLP: It bounced recently from bottom 2.41 to 2.61 then retraced down towards 2.41 again.
Entry: 2.41-2.44
Stop: below 2.4
Target: 2.61

Weekly Wrap

For the week, DJI gained 3.8% on the top of the list. STI has been very bullish for past three week, it gained 1.2% for the week. Shanghai (SSE) declined for 2nd week, it's on correction mode now.

STI is approaching its 2-year high 3464.79, which is also its high since 2008.

Weekly & Monthly Index Performance

Weekly Index performance:

Monthly index performance:

STI weekly chart: the index is trending upside, but may pull back correction  in coming week or two.

HSI weekly chart: hit 25000 this week and retraced. The index is still bullish now but may pull back in coming week(s).

Shanghai weekly chart: the index unable to hold above 3250 for the month of Jan. It may retrace (correction) in coming weeks or month. But in medium term, it's still bullish.