Index Weekly Wrap for the Week of Jul 27

US stocks closed mixed this week, the DJI and SPX continue getting higher, SPX hit new high since Jan and DJI hit new high since Feb this year. But the technology dominant index Nasdaq(COMP) reversed down after hitting fresh new high, lost 1.1% this week led by FB 20% loss in last two trading days of the week, though the COMP index is still in a nice uptrend.

In Asia, HSI closed positive for the 1st week after 6 weeks of down in a row, it rebounded from key support 28000 level after 3weeks consolidation. SSE index rebounded and hit one month high after beijing said to have more stimulus to support its economy.

STI was up 3rd week in a row, rebounded back into its long term uptrend channel, upside major resistance 3340-3360. Major indexes weekly performance and charts as follow.

Index Weekly Wrap for the Week of Jul 20

US stocks mostly stalled this week, three indices had little change.The technology dominant Nasdaq($COMP) hit fresh intra-week high and stall. All three major indices uptrend are well intact.
The "fear index" closed at 12.86 this week, no fear at all.

In Asia, major uptrend was broken down weeks ago and rebounded this week after selloff. STI index rebounded the most with 1.1% gain- its 2nd week rebound, immediate resistance at 3300 level then major resistance 3340-3360.

HSI continue to be supported just above 28000 level, Shanghai SSE index consolidated within its 3weeks trading range of 2750-2850 area.

Index Weekly Wrap for the Week of Jul 13

US three major indices uptrend are in good shape, the technology dominant index nasdaq(COMP) hit fresh new high again, it's recorded stunning YTD return of 13.4% so far. The indices are in 2nd week consecutive up, notably the DJI fully recovered and return to positive YTD return, after three week dip underwater. The US stocks expected to continue going up further, no signs of bearish reversal.

Asia stocks also rebounded this week, major index HSI rebounded for the 1st week after four weeks fell in a row, holding above 28000 support level. Shanghai SSE index 1st week rebound after 7weeks down in a row.

STI 1st week rebounded from 3200 major support level after 4 weeks fell in a row, it bounced back just beneath its major uptrend channel line as shown in below weekly charts. Immediate resistance to watch is 3300 level in coming week(s). Weekly major indices performance and charts are as follow.

Index Weekly Wrap for the Week of Jul 6

US stocks turned positive this week. The SPX and COMP rebounded after two weeks profit taking, and DJI 1st week after three weeks fell. Both SPX and COMP recorded 3.2% and 11.4% YTD return while DJI appears a bit weak with 1.1% loss YTD. ALL three major US indices uptrends are well intact. The US stocks look not affected at all by the kick-start of US-China trade tariff effective on Friday 6 Jul.  The fear index VIX fell more than 10%, back down to 13.37 on Friday.

On the other hand, Asia stocks continue fell attributed to the trade tariff and strong dollar. Equity Funds continue flowing out of Asia-pacific according to ETF Global Fund Flow statistics (https://www.etfg.com/research/fund-flow).

HSI fell for 4weeks in a row, immediate support is at 28000 level. STI also fell for 4weeks consecutively by now, just dip below 3200 major support level this week, expected the index could rebound around 3167 and 3200 technical support area in coming week(s). The Shanghai SSE index was the most worst performer with 16.9% loss YTD return. SSE is in 7th week continuous down in a row.

Major indices weekly performance and weekly charts are as follows.

Index Weekly Wrap for the Week of Jun 29

It was the end of last week of the month also the last trading day of the first half of the year. SPX and DJI had three weeks fell consecutively, and the relatively stronger Nasdaq(COMP) was in 2nd week fell after hitting fresh high. Both SPX and COMP are still having postive YTD return with 1.7% and 8.8% respectivlely, but DJI is underwater with 1.8% YTD return. All three major US indices weekly major uptrend are still intact(as shown in below weekly charts).

In Asia, stocks look even more bearish. HSI recently just broke its major uptrend and key support level 30,000 mark, Shanghai SSE index also broke its key support 3,000 and free-fall style selloff.
STI fell to the edge of its major uptrend channel bottom. All three indices are underwater with YTD return at -3.2%, -13.9% and -3.9% for HSI, SSE and STI respectively.

STI major resistance 3340 and support at 3200, HSI major support at 28100, major resistance at 30,000 level.

The fear index VIX jumped up about 17% this week to close at 16.09, indication of moderate risk. Notably, Gold fell to its 6 month low of 1251, attributed to strong dollar. Crude Oil WTI climbed up to 74, a level never seen since Nov 2014.