Weekly/Monthly Wrap

All indexes in my table below are red(negative) for the week. Nasdaq lost 0.4%, DJI -1.2%, STI-1.7% and HSI -2%, lost the most.

The US three major indexes have been trapped within a trading range for the past four weeks- in sideway trading.

Over in Asian markets, the Shanghai index and HSI have been very volatile in past two weeks. SSE formed a Spinning Top weekly candle, which is a toppish sign but need confirmation following week.

STI had a ugly black weekly candle, indicated this selling is hard. Immediate support is at 3365 thereabout.

The major uptrend are still well intact for SSE, HSI and STI. For bulls, the retracement provides buy opportunities.

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STI Tumbled Today

Message from my FB group "SgTraderClub" update during market hour:

STI lost ground today, break its short term support level 3435( refer to my weekly wrap)dropped 36pts to 3423 now. Major support level will be 3375-3355, if day low 3412 can not be held.

Weekly Wrap

For the week ended May 22.

Shanghai Index resumed its uptrending and hit new high of 4657.6, after two weeks of retracement.

HSI within the consolidation range but the weekly candle shows it poised to move higher.

STI was trading within its 3-week range, unable to close above 3465 resistance level. Immediate support 3435.

The US DJI and SPX hit new high for the week then sold off close negative. The bulls look losing steam.

Weekly Wrap

For the week, all major indexes listing in the table below have rebounded from past week(s) correction. Weekly candlesticks for all six indexes look bullish, it's expected market will be rise or consolidate at support.

Stocks in focus for Singapore:

Hkland
Hobee
yanlord
China everbright Water

HSI weekly doji candle formed. Market uptrend may resume after previous two weeks retracement.

 Shanghai index is leading the rebound. Formed a bullish weekly candle as well.

 STI weekly formed doji candle at major support 3465 level. Uptrend is well intact.

Weekly Wrap

For the week, The US three major indexes are still consolidating in trend top range.

STI is in its 3rd week retracement, breakdown support 3465 but managed to stay above 3450. Weekly candle is bearish with no reversal signal yet.

HSI and SSE in their 2nd week retracement respectively. The weekly candles are bearish though major uptrend still very strong.

If the wall street maxim "Sell in May, Go away" were true, I think it will be good chance to buy on dip of HSI stock, in expect of launch of Shenzhen-HK connect in Oct.

Index Performance for the Month of Apr

Weekly Wrap

For the week, Shanghai gained another 1.1%, HSI added 0.3%. The Shanghai index looks LOSING STEAM now, after 8 weeks up in a row, which the index surged more than 1200 points or 38%. and Yes! in just eight weeks. What a move. It formed a doji candlestick on weekly which indicates the bulls are losing steam. The index may pause for a rest-- consolidate or retrace, though uptrend is still well intact.

The US three indexes had a big rebound on Friday but overall, the indexes in red for the week, lost from 0.3% to 1.7%.

HSI also looks losing steam after its 7-week in a row up. It added more than 4400 points or 18% in just seven weeks time, trailing Shanghai index.

STI unable to stay above 3500 points this week, retraced to hit immediate short term support 3465. Uptrend is still well intact, expected the index to move up further after consolidation.