Weekly Wrap

For the week, major markets turned to bearish in last two trading days. But US three indexes managed to stayed positive marginally, whereas three Asian indexes closed negative.

Shanghai index closed down little, it looks the index still resilient.
HangSeng closed with a big engulfing weekly candlestick, which is very bearish.
Straits Times index also closed with a bearish weekly engulfing candlestick.

STI closed with a bearish weekly engulfing candlestick. Close below 50% fibonacci level at 3054 as well. Expect more downside if it can not rebound above 3054 level.

Weekly Wrap

Major markets registered another week of gain. US all three major indexes into its 4th week consecutive up, Hang Seng into its 4th week green as well. Whereas Shanghai and Singapore into their 3rd week of rebound.

STI crossed above its near term resistance 3054 level, closed at 3068. It's expected to rebound further with next target at 3167.

Weekly Wrap

World major indexes are continuing their rebound this week.

Shanghai index gained the most with 6.5% up. It has recovered all its loss for this year, closed above 3235 YEC(year-end-close) level. The weekly candle looks bullish, expected it will move higher in coming week.

Hang Seng has recovered most of its loss this year but still below its YEC 23605 level. About another 600 points which expected to continue its rebound coming week.

Straits Times Index still way below its YEC level 3365. It dropped quite a lot, has plenty of room for rebound. Immediate 50% fibo level is at 3054.

In US, all three major indexes have had a nice bounce, all recovered more than 50% of their loss, which are expected to continue to move up.
(Refer to below indexes charts)

Weekly Wrap

For the week, STI surged spectacular 7.4% or 205.35 points to close at 2998.5, just beneath 3000 mark. Next level to watch is at 3060, which is its 50% fibonacci level as well as major support turn resistance level.

Other major markets in US and Asia rebounded strongly too. HSI next level to watch is 23600.
Shanghai index not breakout its immediate resistance level 3200 yet, more upside if it can close above this level in coming week, also a sign to confirm bottoming out for SSE.

The DJI index rebounded 3.7% for the week, crossed above its 50% fibonacci level. Market is more in bull's camp now.

Weekly Wrap

Markets rebounded this week, except for Shanghai and STI. Shanghai market closed for holiday and will be resume trading on Oct 8, next Thur.

Stocks are quite volatile this week, they are sold off early but rebounded in late week, recovered all or most loss. HSI hit new low on Tue since Jul 2013 then quickly recovered on Thur and Fri.

US three major indexes have been trading within its prior weekly range in last month, hit bottom and rebound. Mostly in consolidation mode.

STI looks very weak as compare to its peers. it broke below its consolidation range, hit new low since Jun 2012, managed recover a bit only. Weekly closed with 1.4% down. No bullish reversal sign seen yet.