Weekly Wrap

US markets on their 2nd week rebound. DJI and SPX hit 7-week high, while COMP is near its 7-week high. SPX looks not so bearish as compare to 3 weeks ago, bulls got temporary relief, by now.

SPX next resistance is at 1992 level( 50% fibo retracement).

STI hit its six-week high this week, not so bullish as the US but catch up slowly. It closed negatively marginally this week. Next resistance level is 2705.

HSI still stucked in its six-week trading range. SSE trading within its four-week range. No bullish rebound signs yet.

Weekly Wrap

For the week, major indices rebounded. HSI jumped 5.3%, STI jumped 4.6%, indices weekly and YTD performance as in below table.

US  three major indices holding above their respective key support level and rebounded for now.

Whereas Asian stocks are still in downtrend. STI closed at five-week high, break above its past four-week trading range, which indicates bulls are in dominant now. Immediate resistance level is at 2705 for coming week. Further rebound is expected if it close above this level in coming week.

HSI and SSE both are trapped within bottom range trading currently.

SPX immediate resistance is at 1950 level, will see can it continue its rebound in coming week.

Weekly Wrap

For the week, major indices on 2nd consecutive week red. DJI rebounded 313 points on Friday but it still down 230 points or 1.4% for the whole week.

US markets generally are holding above their major support level, for now. DJI is holding above its major support 15500, SPX holding well above its major support 1820, COMP holding above its major support 4300 level.

Whereas HSI hit new low this week, lost the most for 5% for the week. STI has been trading in the range for the past four weeks, just holding above 2528 level. Shanghai market closing for CNY holiday, trading will be resume on coming week.

Indices weekly performance as in below table.

Weekly Wrap

Dear readers, wish you Happy Chinese New Year.

Coming week trading in Singapore only resumes on Wednesday, HK start on Thursday, China markets will be closed for whole week and only resumes on the week after.

Market donot look good, as US markets resumed its decline after two weeks rebound. The three major US markets were sell-off hard on Fri.

STI has been in "bottom" range trading for past three weeks.Shanghai and HK look no bullish momentum for rebound. Given the shortened trading days, it's expected it will be relatively quiet for coming week, if not following the US.

Weekly major indices performance in below table.

Weekly Wrap

Weekly and Monthly indices performance as in below table.

US markets rebounded as expected in my previous weekly wrap, the three major indices closed sharply higher on Friday. DJI jumps up 396.6 points and SPX plus 46.88 points.

Friday's surge came following Japan's surprise interest rate cut to negative territory.

US indices are up for second consecutive week. SPX next target is its 50% fibo level at 1992.

STI closed first week green after three weeks red. Next target is 2700.

Shanghai index hit new low this week, also its lowest since May 2014. It's the only one in red this week with another 6.1% down.

 So far all major indices still in red this year, YTD change also indicate Jan's performance. SSE down the most in Jan with 22.6% loss, HSI -10.2%, the rest lost from 5-8.8%. The beginning of new year are all in red. Hopefully it will turn to good end of the year.

Oil Price Vs. KFC

Received this picture compare KFC and Oil price repeatedly.

Dont believe it then go KFC website and found this KFC actually more expensive.

Weekly Wrap

US markets rebounded this week, after three consecutive weeks decline. Weekly hammer candlestick formed on all three indexes  namely SPX, DJI and COMP, which indicate possible rebound in coming week(s).

All indexes in my table below are still in negative return YTD, STI down 10.6% and HSI down 12.9% YTD.

Major Asia indexes are expected to catch up in coming week, following US rebounce.
Refer to below table for major indexes weekly performance.

How Low Can STI Drop?

STI Technical Support level Update:
Support level 1: 2522(back to Oct 2011 low)
Support level 2: 2240 (Fibonacci extention @1.61)