Index Weekly Wrap for the Week of Nov 24

For the week of Nov 24, all US three major indexes hit fresh new high again. The technology heavy weighted Nasdaq index added 1.6% for the week. The fear index VIX spiked down new low to 8.56 but rebound back to bottom range 9.67 on close.

In Asia, HSI hit and STI hit fresh new high, only SSE failed to hold early gain the the week and closed in the red, but SSE still in uptrend channel, this week's selloff more likely profit taking.

Weekly indexes performance as follows.

Index Weekly Wrap for the Week of Nov 17

For the week of Nov 17, major indexes closed mixed. In the US, tech heavy index COMP hit fresh new high, but SPX and DJI close in red for 2nd week. SPX retraced after hitting its major upper channel line(resistance). All three index uptrend well intact.

HSI index hit fresh new high this week, thanks to Tencent's(700.HK) good than expected result.

Both STI and SSE indexes lost more than 1% this week to 1.1% and 1.5% respectively. Both indexes are at same number 3382 level coincidentally.

Major indexes weekly performance as follows.

EUR/USD and The Dollar Index DXY

It's worth to note the charts for EUR/USD and the dollar index DXY. They are inversely related as seen below.

A rising dollar from bottom of chart at 91 to current price of 94 has formed an Head and Shoulder bullish reverse pattern(refer to DXY daily chart). With the same time frame, by looking at the EUR/USD daily chart, which has formed a head and Shoulder bearish reverse pattern(refer to EUR/USD chart).

Both patterns are powerful bottom and top reversal signal. DXY neckline at 94.14, with target price (TP) projection to 97.31, and EUR/USD neckline at 1.1665 with TP projection down to 1.1262, if both pattern work out.

Index Weekly Wrap for the Week of Nov 10

For the week of Nov 10, among my six major indexes, all three in Asia closed positive with 1.1% to 1.8% gain, and all three US indexes closed negative with 0.2% to 0.5% loss. Seen in below index weekly performance table, HSI is the top performer with YTD gain of 32.4% gain, and Shanghai index is catching up from last position now, with 10.6% YTD gain.

 STI index looks bullish, it's now trading towards 2-yr upper channel line(resistance) at 3442 thereabout.

 HSI index had breakout its 2-yr upper channel line this week, the bulls look so strong. Tencent(770.HK) this week was giving a push to the index.

 Shanghai SSE index looks great, plenty of room to upside when other indexes look "overbought".

 The US three indexes charts looks stunning, they are just up and up without looking back. When will the trends end?

Index Weekly Wrap for the Week of Nov 3 and Monthly Performance for Oct

US stocks continued hitting new high this week, DJI has had 7 months consecutive gain by Oct.

In Asia, HSI is trading at its 3 year-high, STI also trading in its 3year top range now. The only lagger is Shanghai SSE index which still trading within 2-year range and there are plenty of room for upside.

On monthly basis, STI was the top gainer with 4.8% up, and Shanghai SSE index as lagger with 1.3% gain in October.

Major indexes weekly and monthly performance as follows.