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.