Weekly Wrap

US market closed down on Friday. The US three major indexes DJI, SPX and COMP closed in red this week, DJI and SPX gave back their whole previous weekly gain, whereas COMP gave back most of its prior weekly gain.

The DJI and SPX have been trading in sideway since beginning of the year, it appears to me they are loosing steam slowly. Only tech-dominated COMP in upward trending. DJI closed below its 200-ma again, which is a bearish sign.

Shanghai index SSE rebounded 2.9% for the week, major level to watch is at 4208 level which is a main resistance level now. Bulls should dominate the market again if the index can reclaim 4208 level, otherwise the sentiment will be still weak.

STI hit above 3365 level this week but unable to hold above it, closed at 3352. Keep watch 3365 as major resistance level for STI.

HSI is down a little this week but still above major support 25000 level. Bulls are in charge as long it can stay above this level.

Weekly Wrap

For the week, Nasdaq hit new historical high of 5210.14, as tech giant GOOG jumped 16.1% on Friday.

SPX and DJI also bounced to range trading top.

STI rebounded back to near 3365 level this week, after it hit low of 3250 last week. It has been in range trading for six weeks already, watch 3365 level as early indication for more upside.

HSI rebounded to close at above 25000 mark this week, good sign of market recovery. Next level to look is 26000 level, many blue chip are at attractive valuation for HK. Look for facebook group for more updates.

Shanghai(SSE) gained 2.1% this week, it seems the panic selling has been stabilized by now, bulls should be slowly return after breath. Major uptrend is still intact as long its 200ma at around 3400 is held.

Weekly Wrap

 For the week, Shanghai market had highest two consecutive days gain in six years. In total, SSE rebounded 5.2% reclaimed 3800 level.

HSI rebounded sharply too from its downside spike, left a huge tail candlestick.

STI lost 63 points to 3279.88 this week.

STI major resistance is at 3365, it has been consolidating in the range from 3365-3250 for more than a month already. 

 SSE formed a weekly hammer candle with a long tail,which is bullish signal. next target is 4200.

 HSI had its record biggest weekly swing of more 3425 points this week. left a huge long tail spike down. Next resistance 25000 then 26000 level.

Below chart is major indexes performance for the first half 2015, SSE up by 32.2% at end of June, where HSI gained 11.2%, STI is at bottom with loss of 1.4%.

Below chart is major indexes 2015 performance until Jul 11.

Long Candidate: Tianjin ZX USD

Tianjin ZX USD had spike down below its 200ma then rebounded strongly yesterday to formed a classic bullish reversal candles, in last two days. Expected further rebound with first target 1.32.

Shanghai and Hongkong in Heavy Sell-off

Facebook group update:

8 Jul SSE, HSI and STI update:

Both SSE and HSI were experiencing another round of heavy selling off today. Morning session just over, SSE -145 or 3.88% to 3582, it hit day low of 3421 soon after open then rebounded, just above its major support 3400 level.

HSI dropped 1049 pts or 4.2% to 23926 in morning session, it all the selling off to support 23700 level then rebounded. (Refer to chart)

STI is trading within the range, still in consolidation mode, under its major resistance 3365 level.

THe indexes look technically oversold, and due for a reobund. I will be focusing on banks, and blue chips oversolded for a quick rebound.

Stocks in focus:
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HK:
SSE A50 2823.HK
China minsheng bank 1988.HK
Citic Bank 998.HK
Haitong Securities 665.HK
Ping An insurance 2318.HK
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SG:
Hkland
Jardine C&C below 30USD, can monitor closely for rebound. its right share is 26 USD

Weekly/Monthly Wrap

Another bloody sell-off week for Shanghai index(SSE), the index dropped 12.1% this week despite government's effort to turn around the heavy selling off. It has been dropped 19.7% in previous two weeks already. Some traders regard Shanghai as a "mafia" market--majority retail investors money has been wiped out in such a short time frame for nothing.

The weekly candle as shown in below chart looks pretty bearish, next major support is at 3415-3235, about 260 points for possible further drop. Let's see how the Chinese government is going to intervene the crisis. By definition, any drop of more than 20% is consider bear market.

US three major indexes lost from 1.2-1.4% this week, closed for holiday on Friday.

HK is on retracement mode now, as affected by China market. Current support is at 26000 level.

Singapore STI surprisingly showing resilience to the widely bearishness markets.  It went up 0.7% to close at 3342.73 for the week, it expected the index should consolidate below 3365.

Refer to below major indexes charts.

Monthly index performance for June.