Weekly Wrap

US stocks selloff this week, DJI and SPX had its largest weekly loss since November. The immediate ascending trendlines had been broken down. Warning signal for bulls.

STI had its first weekly loss after six weeks of up. Shanghai and Hang Seng are the only two indexes closed positive in my below major index weekly performance table, Shanghai index appears poised to move higher.

Major index performance table and index weekly charts as shown below.

 

Weekly Wrap

Global stocks closed higher after the Fed's decision to raise interest rate for 2nd time within 3months time.

Hang Seng index gained the most with 3.1% higher this week, whereas the Straits Times Index gained 1.1%.On YTD basis, the STI and HSI both gained 10% and 10.5%, the most in my main indexes in below table. Bulls are obviously in charge. Refer to below weekly charts for major indexes.

Weekly Wrap

Most stocks ended this week flat of between 0.4% to -0.5%, markets from US to Asia were relatively quiet before U.S Fed rate announcement next Wednesday. It's mush anticipated there will be a rate hike as recent strong economic data.

US three major indexes are in strong bull run. STI in 5th week consecutive wining streak, HSI consolidating after two weeks profit taking, Shanghai index in 2nd week profit taking.

Major indexes weekly performance table and weekly charts shown in below.

Weekly Wrap & Monthly Performance for Feb

US stocks continue its bull run, the three major indexes all closed with positive gain, SPX is on its 6th week winning streak. DJI registered close of 21000 for the first in its history.

In Asia, Shanghai SSE and Hongkong HSI retreated this week,lost 1.1% and 1.7% respectively. HSI unable to hold above 24000 level, was the worst performer this week.

STI immediate resistance is at 3167, where downside major support level at 3050.

On monthly basis, stocks continue registered positive close for February, 2nd month in a row up. Major indexes weekly performance, monthly performance and weekly charts are seen in below table.