Weekly Wrap

US stocks continue hitting fresh new high this week. DJI CLOSE new high and SPX and COMP closed almost flat. All three indexes are in nice uptrending.

STI hit new high, nice up trending, immediate resistance is 3365 and support is 3270.

HSI hit its upper channel line resistance around 27200 thereabout this week, watch closely for any bearish reversal coming week. Shanghai had six weeks consecutive gain so far, immediate resistance is at 3300 level.

Weekly indexes performance and weekly charts as follow.

Weekly Wrap for the week of Jul 21

All major indexes close at new high this week except DJI in focus list below. SPX and COMP are getting higher after previous week breakout but DJI remain in the range with little change this week. The US stocks are in bullish trend. No signs of reverse.

STI hit new high after bullish breakout previous week, next major resistance is at 3365.

HSI is the most outperform index with 21.4% YTD return, Shanghai SSE had its 5th consecutive positive close with immediate resistance at 3300. Major index weekly performance as in below table.

Weekly Wrap for the Week of Jul 14

US stocks had breakout upside and close new all time high this week. Bulls are in absolute charge.

Asia stocks also followed to close positive. HSI index had breakout and close new high, STI close new high, Shanghai on its 4th week consecutive up.

Banks and selective blue chips are leading the way up. For those who are member of SgTraderClub facebook group member, you may check out there to get stocks trading and investment ideas on daily basis. Weekly index performance are as follow.

Weekly Wrap for the Week of Jul 7

U.S stocks continue its sideway consolidation this week, no signs of immediate bearish reversal. DJI hit new intra-week high this week. Uptrend is well intact.

Meanwhile, STI continue its sideway consolidation as well. Immediate support level is 3200 and resistance at 3270, no signs of immediate bearish reversal.

HSI was the only index that sold off this week, lost 1.6% due to profit taking. Nevertheless, HSI has been the top gainer with 15.2% gain YTD.

China SSE index posted 3rd week gain consecutively immediate resistance is 3300 level. Weekly index performance as in below table.

Weekly Wrap for the week of 30 Jun, June Monthly Index Performance

US three major indexes close down this week, while Asian three close positive. US stocks risk profit taking in coming weeks but major uptrend still well intact.

Shanghai stocks poised for further rebound, next key resistance to watch is at 3300.

HSI index formed a doji star after 5-months consecutive up, indicated a pause or reversal on current uptrend.

STI immediate support is at 3200 level, possible sell down if 3200 violated. Upside resistance is at 3270 level.

 Monthly performance for June.