Index Weekly Wrap for the Week of Aug 31

US stocks hit new high again this week, the Nasdaq(COMP) and SPX hit all time new high, and DJI is about 650 pts away to its previous high of 26616.71. The technology heavy weighted COMP and SPX are seen extended its run up.

In Asia, stock is generally much weaker as compare to US peers, indicating equity funds continue flowing out of Asia and into US. STI is just above its key support area 3200-3167, further downside is expected IF the key support can't be held in coming week(s).

Weekly major indexes performance and respective weekly charts below.