Index Weekly Wrap for the Week of Feb 9

What happened in last week was remarkable, it's rare to see the loss over 1000 points or 5.2% in a week for DJI, or 3000 points in week for HSI. But even with that, the US markets major uptrends are still in good shape, see yourself in below weekly chart.

There are many speculation view out there, bullish, bearish, the start of another round of financial crisis etc, the fact is all are just guess there is no definite answer yet at this stage. The VIX surged up 68% at close and 190% intra-week spooked many and will continue in coming weeks. It's not settle so soon yet.

STI and HSI back down to their uptrend channel now, and SSE was the weakest and the worst performer- surprised me as the Chinese market historically did not in syn with the US.

Now all indexes gave up their gain this year so far, do closely watch whether the stocks can recover and stay above the YEC level in coming week(s). This is important indication.