Weekly Wrap

For the week, Shanghai had one of the biggest weekly loss in its history-- a loss of 13.3%. Closed at 4478, next crucial support level is 4200. By now, uptrend is still hold but if 4200 broken down--a sign of bull run over.

The US markets rebounded for the week. The three major indexes closed green.

HSI lost 1.9% close at 26760, next major support is 26100. Bulls are still have chance to move higher, if the retracement is not overly done--below 26100 level.

STI lost 1.6% to 3300, bulls failed to reclaim 3365 after previous rebounce. next major support is 3280.