Weekly Wrap

US market ended with first negative week after five-week up in a row.  Both DJI and SPX turned down after hit a major descending line resistance. SPX unable to break above 2050 resistance level, ended 13 points down to 2036.

However, bulls are not totally lost in control yet, let see the selling is to continue in coming week or just a pause for bulls after long run. There are times go fishing and time for rest. When it's unclear, it's time to standby monitor and take a rest now.

STI formed a pretty bearish reversal candlestick end of the week, at 2882 YEC, as major resistance level now. This place is where both bulls and bears are expecting to fight furiously. Which camp will win? Let's see...

HSI was sell-off this week as well, formed a bearish pattern at resistance level 20600, similar to STI.
SSE is the only index had a positive close not a lot though.

Year-to-date return, Shanghai is the weakest, 15.8% loss so far, DJI is the only positive index with 0.5% gain. STI lost 1.2% YTD.

Enjoy your long weekend, in observing Good Friday.

Weekly Wrap

STI: for the first time in the year, STI closed higher than last year 2015. As long STI can stay above its YEC 2882 level, bulls are going to continue run up from now on.

The impacts are obvious, those big boys--funds are rushing into market to buy blue chips over, pushing the index higher as the benchmark index are now "overweight", Index stocks especially the three banks surged up for the week.
OCBC +5.3%,
DBS +5.1%
UOB +3.4%

DJI added another 120 points on Friday. US three major indexes are one their five-week win streak.
DJI next major resistance is at 18,000 level. SPX hit 2050 downtrend line, next major resistance level is 2100.

SSE added 5.2% for the week, is breaking out from its six-week trading range now. More upside is expected once the bottom consolidation is over.

HSI is already started its rebound mode this week.

The three indexes trading higher than last year are: STI, DJI and SPX.

Weekly Wrap

US markets surged up on Friday, DJI added 218points, while SPX up 32points, as oil price rose and investors also look positively for European Central Bank(ECB)'s stimulus.

DJI and SPX closed above 200ma for the first time this year, which indicate early bullishness on long term trend. The indexes are on four-week win streak now.

Shanghai market still within its six-week trading range from 2638-2955.

HSI into its 2nd week win after previous week breakout. It's expected to continue rebound in coming week.

STI has been in sideway trading for the week, had little change. It is approaching 2882 YEC level also immediate resistance.

Weekly indexes performance and weekly charts are in below.

Weekly/Monthly Wrap

World major indices continue their rebound this week.

STI surged the most this week with 7.1% gain, reduced its YTD loss to 1.6% or 45 points. It's expected the loss to be erased in coming week. STI closed at 2882(YEC) for year 2015. To be watched.

HSI recovered 4.3% in the week but still lost 7.9% YTD. HSI crossed above its 20,000 level now. Immediate resistance is 20500.

Shanghai SSE rebounded 3.9%, its YTD loss is the most, at 18.8%, long way to go. SSE has been trading in its 5-week range (bottom consolidation) still. A break above 2955 could lead to further recovery.

US three major indices into their 3rd consecutive week up, break above their 7-week consolidation clearly. Bulls are in absolutely charge now.  SPX key resistance level to watch is at 2050.

Major indices weekly and monthly performance table, their weekly charts are as below.

Monthly performance: