Weekly Wrap

Global stock markets continue rebound, 3rd week. SPX and DJI hit all time high this week, and Nasdaq breakout and hit new year high, first time closed positive than 2015 YEC level.

Bulls are in charge. STI closed at its year high which it hit in Apr this year. Breakout from its major descending channel line as depicted in below chart, more upside expected with immediate minor resistance at 2950 level.

HSI index gained the most this week for 5.3%, hit new year high just about 300 points below its 2015 YEC 21914, more upside is expected.

SSE closed above 3000 level again, bullish setup to move higher.