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.