Weekly Wrap

For the week ended Apr 21, US stocks look still in good shape-sideway consolidation in uptrend. Asia major three indices in my table below look much weaker, HSI and STI look losing steam in bull run, Shanghai index was sold off hard this week to its major uptrend line.

STI immediate short term support is at 3112 level, and upside resistance is at 3167 level. Major support at 3050 if it continues retrace in coming week. 

Weekly Wrap

Major indexes all dropped ahead of long weekend, investor also nervous about the rising nuke tension in the Korea Peninsula. The so-called "Fear Index" VIX index surged 24% this week to 15.96, highest since Nov 2016, an indication of increasing short positions.

Investor may take this opportunity to take cash off the table from market run up over past few months. Major indexes weekly performance as in below table.

Weekly Wrap

For the week ended Apr 7, US three major indexes close flat mostly. Local STI and HSI edged a little bit higher, Shanghai index was the best performer with 2% gain.

STI still in good shape of uptrend, there is still some room to upper channel line as in its weekly chart below. Shanghai is poised to move higher, to catch up to its peers, plenty of room to upside.

Weekly index performance and charts as in below.

Weekly/ Monthly Wrap

It's the end of this week and also the end of first quarter. On weekly basis, Nasdaq is the best performer with 1.4% gain, STI added 1% as second.

For the first quarter of this year, STI outperformed all major indexes with 10.2% gain, Nasdaq and Hang Seng following with 9.8% and 9.6% gain respectively. The least gainer is Shanghai index, which has had 3.85 gain.

 Index performance for the month of March.