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.