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.