Weekly Wrap

Market is relatively quiet this week, all the six major indexes in my list below traded within the range of previous week--a sign of consolidation. Only a break above or below these range could provide a clearer direction. So let's wait and see how they unfold in coming week(s).

With the quit similar pattern, we can see how the world markets are interrelated.

Weekly Wrap

US markets sold off hard on Friday, DJI weekly chart ended with a very bearish candlestick, SPX and COMP ended also bearish. It appears to me this round of rebound probably comes to the end, downtrend is going to resume. Refer to below DJI weekly chart.

STI had a quiet week, was trading within its previous weekly range. Volatility is low.

Shanghai index was trading within its previous weekly range too. Market sentiment still bearish, with no signs for rebound.

Weekly Wrap

World major markets rebounded for the week, HSI was up 3.2%, on top of my list, whereas STI gained merely 0.8%, we have only four trading days this week due to General Election on Friday.

Are we going to have post election rally for stock market here? unlikely based on historical data.

Most indexes are trading within their three weeks trading range with lighter volume-- a sign of consolidation. It can be rebound or go down further after that. So there is no clear directly here now.

We shall monitor their immediate support / resistance level for early signs of direction.

Weekly Wrap / Monthly Index Performance for Aug

Major indexes sold off hard for the week again. Invalidated previous weekly bullish reversal sign. Bears are gain more power to push down further in coming week.

Monthly Index Performance for the month of Aug as below: