Index Weekly Wrap for the Week of Jun 1

US stocks rebounded on Friday, COMP and SPX closed green but DJI still lost 117 points this week and 0.3% underwater YTD. COMP has been the best performer YTD with 7.7% return, on the other hand, the worst performer has been SSE which lost 7%. The three US major indexes uptrends are still intact, COMP is way above its major uptrend line, SPX and DJI tested their major uptrend lines respectively and rebound from there.

In Asia, both HSI and STI retraced down for 3rd week but still within major uptrend channel. SSE was trading one the edge of its low line this year, drop in 2nd week.

For STI, immediate support is at 3400 which is 250dma and resistance is 3500 should it rebound in coming week.

Index Weekly Wrap for the Week of May 25

US stocks closed positive this week and Asia three major indexes closed negative as opposite. The DJI is trading just above its YEC level, SPX and COMP had 1.8% and 7.7% YTD return. Major uptrend are well intact for the three indexes.

IN Asia, HSI and STI are in 2nd week retracement within uptrend channel, SSE had first week down after 4 weeks rebound, technically  SSE looks weak and it's the only index had netagive YTD return with loss of 5%.

STI major support 3500 and resistance 3600.

Index Weekly Wrap for the Week of May 18

US stocks down a little on profit taking, after over 2% rise for the three major indexes last week. So far, uptrend is well intact for all three major indexes(refer to weekly charts below).

In Asia, both HSI and STI took a breath this week, but both indexes are in good shape of uptrend. HSI major support level 30000, and immediate resistance 31600. STI immediate support at 3500 and resistance at 3600.

SSE continued its rebound, 4th week in a row. Te index is a only one has negative YTD return with 3.5% loss. The best performer so far is NAsdaq(COMP) recorded 6.5% YTD return.

Index Weekly Wrap for the Week of May 11

All major indexes closed positive this week, the US three major indexes added between 2.3% to 2.7% this week, technology stocks dominant Nasdaq($COMP) index was the front runner as always, up by 2.7% for the week and 7.2% return YTD. Weekly candles look bullish and expected to move higher in coming week.

HSI rebounded from its major support level this week with 4% up this week-the highest among all. It's poised for further rebound coming week(s).

As for STI, the bulls look a bit of fatigued and was consolidating within its 3-week trading range, general bullish trend is well intact. Lagger SSE rebounded from its major support level 3100 as well, bulls got a temporary relief, but it looks lack of strength. 

Index Weekly Wrap for the Week of May 4

Major stock indexes closed little change this week. In the US, Nasdaq($COMP) index has been the best performer, currently within its 6-wk sideway consolidation range, SPX and DJI are also in the consolidation but both below their YEC levels-weaker than COMP. The long legged weekly hammers on all three indexes indicate bulls are fighting to support current uptrend, not easy for bears to take over.

In Asia, STI still one of the top index recorded top YTD return with 4.2%, as compare to HSI which fell back to square one this week, the weak SSE struggling for a rebound just above 3000 level support, no strength.

STI immediate support will be 3500 and resistance at 3650 level.

 

Index Weekly Wrap for the Week of Apr 27

US stocks three major indexes have been in sideway consolidation for 6weeks, the technology dominant Nasdaq index(COMP) has been the best performer with 3.1% return YTD. SPX closed same level as where it started this year, stayed flat, DJI lost 1.7% this year. All three indexes are above their respective major uptrend line, and expected to rebound in coming week(s).

In Asia, STI index has been performed unexpectedly great. It's the best performer in my table below with 5.1% YTD return, phenomenal. The three local banks led the index recorded 5week up in a row. It's now just points below year high 3611.69 on Feb 2,2018.

HSI has been consolidated just above its YEC level 29919 since Mar, keep bullish bias view as long it can hold above the YEC level. SSE has been weak, always. Watch 3000 level as major support.

Index Weekly Wrap for the Week of Apr 20

US indexes DJI and SPX are up by 0.4% and 0.5% respectively this week, but both are still "underwater"-negative YTD return. DJI lost 1% YTD and SPX lost 0.1% YTD. The technology dominant Nasdaq(COMP) is the best performer among the three, with 3.5% YTD return.

STI was the best performer this week with 2.1% stunning gain, thanks to the three local banks led the charge. The index hit 3600 level this week but closed 7points off the level. The weekly chart looks bullish.

Another two Asia major indexes HSI and SSE both closed in red, while HSI is consolidating just above its YEC level 30000, this level continue to be the key support level to watch in coming week. SSE shows a more bearish chart, it was trading below major uptrend channel, just broken 3100 support level and next key level to watch is 3000.

Refer to below details weekly charts for technical analysis.