Weekly Wrap for the Week of Jun 16

US stocks had a mixed week, the DJI had 4-week up in a row, hit all time new high, SPX in 3-week consolidation range, the technology companies dominated Nasdaq($COMP) was down for 2nd week due to profit taking, tech stocks soared up quite a lot this year with 14.3% YTD return. In overall, US three major indices uptrend still in good shape.

Over in Asian markets, STI has been in its 6-week consolidation range, uptrending. HSI on the other hand, closed first week red after 5-week consecutive up. Strong uptrend but watch out for short term profit taking.

Shanghai stock index retreated this week, continue to watch key support level 3100 and immediate resistance 3165 level for upside move.