Weekly Wrap

US markets on their 2nd week rebound. DJI and SPX hit 7-week high, while COMP is near its 7-week high. SPX looks not so bearish as compare to 3 weeks ago, bulls got temporary relief, by now.

SPX next resistance is at 1992 level( 50% fibo retracement).

STI hit its six-week high this week, not so bullish as the US but catch up slowly. It closed negatively marginally this week. Next resistance level is 2705.

HSI still stucked in its six-week trading range. SSE trading within its four-week range. No bullish rebound signs yet.

Weekly Wrap

For the week, major indices rebounded. HSI jumped 5.3%, STI jumped 4.6%, indices weekly and YTD performance as in below table.

US  three major indices holding above their respective key support level and rebounded for now.

Whereas Asian stocks are still in downtrend. STI closed at five-week high, break above its past four-week trading range, which indicates bulls are in dominant now. Immediate resistance level is at 2705 for coming week. Further rebound is expected if it close above this level in coming week.

HSI and SSE both are trapped within bottom range trading currently.

SPX immediate resistance is at 1950 level, will see can it continue its rebound in coming week.

Weekly Wrap

For the week, major indices on 2nd consecutive week red. DJI rebounded 313 points on Friday but it still down 230 points or 1.4% for the whole week.

US markets generally are holding above their major support level, for now. DJI is holding above its major support 15500, SPX holding well above its major support 1820, COMP holding above its major support 4300 level.

Whereas HSI hit new low this week, lost the most for 5% for the week. STI has been trading in the range for the past four weeks, just holding above 2528 level. Shanghai market closing for CNY holiday, trading will be resume on coming week.

Indices weekly performance as in below table.

Weekly Wrap

Dear readers, wish you Happy Chinese New Year.

Coming week trading in Singapore only resumes on Wednesday, HK start on Thursday, China markets will be closed for whole week and only resumes on the week after.

Market donot look good, as US markets resumed its decline after two weeks rebound. The three major US markets were sell-off hard on Fri.

STI has been in "bottom" range trading for past three weeks.Shanghai and HK look no bullish momentum for rebound. Given the shortened trading days, it's expected it will be relatively quiet for coming week, if not following the US.

Weekly major indices performance in below table.