Index Weekly Wrap for the Week of May 25

US stocks closed positive this week and Asia three major indexes closed negative as opposite. The DJI is trading just above its YEC level, SPX and COMP had 1.8% and 7.7% YTD return. Major uptrend are well intact for the three indexes.

IN Asia, HSI and STI are in 2nd week retracement within uptrend channel, SSE had first week down after 4 weeks rebound, technically  SSE looks weak and it's the only index had netagive YTD return with loss of 5%.

STI major support 3500 and resistance 3600.

Index Weekly Wrap for the Week of May 18

US stocks down a little on profit taking, after over 2% rise for the three major indexes last week. So far, uptrend is well intact for all three major indexes(refer to weekly charts below).

In Asia, both HSI and STI took a breath this week, but both indexes are in good shape of uptrend. HSI major support level 30000, and immediate resistance 31600. STI immediate support at 3500 and resistance at 3600.

SSE continued its rebound, 4th week in a row. Te index is a only one has negative YTD return with 3.5% loss. The best performer so far is NAsdaq(COMP) recorded 6.5% YTD return.

Index Weekly Wrap for the Week of May 11

All major indexes closed positive this week, the US three major indexes added between 2.3% to 2.7% this week, technology stocks dominant Nasdaq($COMP) index was the front runner as always, up by 2.7% for the week and 7.2% return YTD. Weekly candles look bullish and expected to move higher in coming week.

HSI rebounded from its major support level this week with 4% up this week-the highest among all. It's poised for further rebound coming week(s).

As for STI, the bulls look a bit of fatigued and was consolidating within its 3-week trading range, general bullish trend is well intact. Lagger SSE rebounded from its major support level 3100 as well, bulls got a temporary relief, but it looks lack of strength. 

Index Weekly Wrap for the Week of May 4

Major stock indexes closed little change this week. In the US, Nasdaq($COMP) index has been the best performer, currently within its 6-wk sideway consolidation range, SPX and DJI are also in the consolidation but both below their YEC levels-weaker than COMP. The long legged weekly hammers on all three indexes indicate bulls are fighting to support current uptrend, not easy for bears to take over.

In Asia, STI still one of the top index recorded top YTD return with 4.2%, as compare to HSI which fell back to square one this week, the weak SSE struggling for a rebound just above 3000 level support, no strength.

STI immediate support will be 3500 and resistance at 3650 level.