Weekly/Monthly Wrap

Stocks have been sold-off worldwide this week, triggered by Bank of Japan's holding off on more stimulus, and some of the major corporate' disappointed earnings, such as Apple (AAPL).

SPX hit all time high and shows bearish toppish sign which give us the first dangerous signal. The probability of heading south increased now. "Sell in May" sounds familiar?

STI, being small and nimble market, reacted and was sell-off hard this week, declined 102 points or 3.5% , something not seen since Jan this year when the index on panic selling. It also broken below its YEC 2882 level, another bearish sign.

Index performance for the month of Apr.

Weekly Wrap

Most stock markets closed higher marginally for the week, while DJI, SPX, COMP, STI and  HSI hit new high. Shanghai SSE declined 3.9% for the week, affected other markets.

So far, there are three indexes i.e STI, DJI and SPX trading positive YTD and three negative i.e HSI, COMP and SSE. SSE YTD still a loss at 16.4%.

DJI closed above 18000 level for the first time since Jul 2015 though just three points only. Expected the index facing major resistance for further upside move, where it was congested area previously.

STI daily uptrend intact well, em bullish as long the index can hold above YEC 2882 level.

Weekly Wrap

All major indexes close positively for the week, HSI gained the most at 4.6%, STI +4.1%.

STI hit new 6-month high this week, closed above YEC 2882 level, i'm bullish as long it can hold above this level.

Weekly Wrap

US markets retraced this week, DJI, SPX and COMP lost 1.2 to 1.3%, year-to-date, only DJI and SPX are positive. DJI YEC level is at 17425, see if it can hold above this level in coming week, SPX just closed inches above its YEC 2043.94.

 STI in its 3rd week red. No reversal signal yet. Immediate support level to watch is 2770. HSI and SSE are relatively quiet trading week.

Weekly Wrap

DJI hit new high this year on Friday, also its first time hit 17800 since Jul 2015. Other two major indexes also reacted positively after Janet Yellen's dovish speech on interest rates. The indexes are continue climbing higher.

Next target for DJI is 18,000 level, target for Nasdaq is at 2950-5000, and 2100 for SPX, SPX broken its descending trend line this week, to upside. 

DJI and SPX are the two indexes are in positive territory zone so far this year. Whereas Shanghai index is the worst performer this year, lost 15% so far, HSI -6.5%, STI-2.2%.

STI is the only index closed negative for the week, lost 1% or 28.9 points to 2818.49. Continue to look for 2882 as STI target level. I'm in the view of bullish if STI traded above 2882 YEC, and bearish if it stays below it.

HSI is in three-week consolidation now, next resistance is 21914, SSE is in recovery mode, its first time closed above 3000 this year, and breaking above its multi-week bottom range. It's expected to continue go up in coming weeks with target at 3235 level YEC. 

Monthly index performance as in below table. For the month of March, all major indexes have gained between 6.5 to 11.8%, very bullish month.