Weekly Wrap

Dear readers, Merry Christmas and Happy New year to you and loved ones.

We are left with one more week to end this year 2016. It's noted that STI dipped below its YEC level 2882 this week, and HSI also went underwater its YEC level 21914. Made both of the indexes negative return YTD. Whereas SSE posted -12.1% YTD return,--the worst performer still.

US stocks on the other hands all returned positive, the three major indexes gained 9%-14% YTD. We can see clearly that US stocks broadly outperformed Asian markets, funds are flowing into the U.S. It should be the same as for other emerging markets as well.

Major indexes weekly performance as in below table.

Weekly Wrap

World stock market reacted negatively after Fed's interest rate hike announcement this week( except Japan Nikkei which went up higher).

STI unable to break resistance(also year-high) 2964, closed down after five consecutive week up. Key support is at 2882 if it continue retrace, and 2964 remain as key resistance level(triple top).

HSI had a big sell-off black weekly candle, lost 3.3% to just above its YEC.Key support is 21914 YEC level.

Weekly major indexes performance as in below table.

Weekly Wrap

US market hit fresh new all time high this week. DJI had 5 consecutive weeks up in a row.

STI hit new year-high this year,it's at key resistance level 2964, the index also had five consecutive weeks green. Next major resistance is 3050 if it continue goes up in coming week.

HSI still in its two-week channel bottom consolidation, up channel still intact.

Weekly Wrap/Monthly Performance

In U.S, DJI closed new all time high this week but SPX and COMP both closed retraced down in profit taking. SPX and COMP lost 1% and 2.7% respectively whereas DJI gained 0.1%.

STI gained the most with 2.1% up, in catch-up other markets this week. It crossed 2882YEC level this week make YTD return positive again. Immediate resistance level is 2950 for upside move.

HSI still in retracement mode in uptrend channel, Shenzhen-Hongkong Stock Connect will kick start coming Monday. The SSE is in rebounding mode, profit taking for this week but overall still bullish.

 Major indexes monthly performance for Nov were positive except HSI in retracement mode.

Weekly Wrap

All three U.S major indexes hit new highs this week. Bulls are in charge. U.S stocks are in 3rd week rally. No signs of look back so far.

Asian major indexes, HSI rebounded this week, resumed uptrending after recent retracement. Major uptrend channel holding well. It's expected the Shenzhen-Hongkong connect will be kicked start in coming month. HK stocks trading activities will be boosted definitely.

SSE continue its rebound this week, slow and steady, have recovered 2/3 of its YED loss so far, narrowing its loss to 7.8% YTD.

STI was the second index has a negative YTD return, with loss of 0.8%, It rebounded 0.7% this week to its short term down trending channel( red lines in below STI weekly chart). Immediate resistance is 2882YEC(Yea-End-Close), and 2790 is the key support level.

Weekly Wrap

U.S stocks closed slightly higher this week, the SPX index rebounded to its recent high. Facing overhead resistance though strong uptrend still well intact now.

Local index STI has been underperforming YTD rebounded a bit this week, narrowed YTD return to -1.5%, just at second most loser after SSE, which had loss of 9.8% YTD. STI immediate resistance level is at 2882YEC, and 2800 immediate support level to watch.

HSI is still in the retracement mode within its ascending trend channel, major uptrend is still intact. SSE is noticeably creeping upwards since June this year, recovered more than half of its loss this year.

Major indexes weekly charts are in below.

Weekly Wrap and Oct Index Performance

Finally U.S elected their president, and Mr Trump's crisis on stocks only last one day in Asia. U.S stocks in fact surged to new high right after election trading. DJI hit new historical high this week, whereas SPX and COMP rebounded back near to their historical high. Surprised to majority, stocks hate uncertainty but not Mr. Trump.

DJI surged more than 5% this week, SPX and COMP both added 4% as well. In Asia, Shanghai index gained the most with 2.3% up, it hit new high since Jan 2016, showing steady recovery though its YTD loss still the most at 9.7% down.

The second worst performer is STI which has negative 2.4% YTD return. STI key support level to watch is 2800, and resistance is 2882YEC level.

HSI had a spike down to its ascending channel bottom line then rebounded, uptrend is well intact.
Major indexes weekly charts as in below.

 Index monthly performance for the month of October.

Weekly Wrap

Last weekend before the US presidency election, US stocks sold off this week. Asian stocks followed, except one market which is China, seems unaffected at all. US three major indexes broke down their key support level this week respectively. As seen in below charts.

STI closed below 2800 key support level, close at the edge of multi-months low. HSI retraced down further into its uptrend channel, closer to its bottom line now.

Major indexes weekly performance as in below table.

Weekly Wrap

The US stocks have been stuck in a tight trading ranged for two months, though the three major indexes are still trading above their key support level in a uptrend. Awaiting for Nov 8 president election result?

In Asia, markets looks rather bearish than bullish. No positive news except the Shenzhen Hongkong stock connect is going to start in November.

STI has been range trading between 2880- 2800 for more than two months as well, and it's slowly drifting downward. This week it just closed above its immediate support level 2800.

SSE too in sideway trading for months, but slightly on a bullish tone, above its key support 3000.

Major indexes weekly performance as in below.

Weekly Wrap

US stocks ended the week with little change, hovering their key support level with no clear direction, though major uptrend still well intact for all three US indexes.

STI rebounded 0.6% after previous week flush down. It is now just above 2800 key support level but just beneath its major ascending line. Indecisive. A break below 2800 would be a clear bearish sign, otherwise 'em stay bullish cautiously. Immediate resistance is 2882YEC.

HSI had only 4 trading days this week due to typhoon. It's up by 0.6%, in uptrending consolidation mode now. The index is the top performer with 6.7% gain YTD. Whereas SSE still the worst performer with 12.7% loss YTD. SSE is on bullish tone, trading above its key support 3000 level.