Index Weekly Wrap for the Week of Sep 7

World stocks dropped this week, haven't seen for sometime as it always the US stock keep going up and rest of the world keep going lower. And This Week Might Be A Turning Point, the US stock turned down after hitting new high, led by the sell-off of technology stocks(FAANG). It's not seen since Mar the COMP index dropped for 2.6% in a week.

On the other hand, the fear index VIX spiked up 15.7% to 14.9 this week, and USD dollar rebounded back up again ended three weeks down. The dollar index $DXY has been risen for 7.4% from year low in Feb, indicated downside risk is increasing and money are flowing to "safe heaven".

In Asia, HSI index broke down its major uptrend line decisively and hit new low this week, STI index hit new low and broken below its major support 3167 level as well. This week is a turning point for both indexes. While the worst performer SSE index was just holding above 2700 level, looks weak and anytime soon can go down lower...

The US-China trade war pulled out by US President Mr. Trump aims to reduce its trade deficit with China seems not working out to its purpose... at least by now. Latest numbers show China's trade surplus with US grows to new record in Aug. Refer to below major indexes weekly performance and weekly charts.