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.