Property Stocks Near Resistance

FTSE ST Real Estate Index has rebounded since last week. Comes to its major resistance level now.

 FTSE ST Real Estate Index component:

Capitaland and kepland are just beneath their resistance as well.

Hongkong Stocks Bullish Setup

Few Notable Charts

Pacific Radiance

As I first posted on 19 Oct( click HERE), it had 2.3% gain in this week, close at 1.11. Further upside is expected. As seen in its weekly chart below. Major support level at 1.085-1.03, target is 1.28.

Singpost: The one and the only blue chips in SG market has been keeping its nice uptrending so far.

Vard: dropped below its IPO price 66c this week then rebounded. immediate target is at 79c which is support turn to possible resistance level.

Weekly Wrap

For the week, world major indices rebounded, after four weeks losing streak. Nasdaq gained the most with 5.3% up, S&P 500 had 4.1% and Dow Jones 2.6% up too.

In Asia, STI had a white candlestick finally after five consecutive black candles(refer to below weekly charts). HSI up by 1.2% as well, albeit in its 4-week trading range. SSE however, had its 2nd week retracement. It lost 1.7% for the week.

STI hit 3167 level YEC last week, and rebounded as I expected. The strong support for STI is at 3190-3167 area. whereas major resistance is at 3300. 

HSI closed just 4 points below its start point this year 23306. It closed at 23302. I'm still bullish on HK market, given the Shanghai-Hongkong Connect should be start before end of this year.

 SPX hit its major ascending line last week and rebounded strongly this week, major uptrend has been well intact. (refer to below weekly chart).

It's All About Attitude

Few Bullish Setup

M1
OCBC
Pacific Radiance

Weekly Wrap

For the week, it's a sea of blood. US markets had a huge spike down but recovered on Fri. DJI had rallied 263 points on Fri, first day up after six days consecutive down. Left a super long tails on its weekly candlestick. Do watch out see if 16380 key level can be held in coming week.

STI closed at 3167 marks, which is same figure from where it started this year. It has given back all its 2014 gain so far. 3167 level is also the 50% level of its high-low as shown in below chart. Do watch out for 3167 level as key support in coming week(s). The next major support is expected to be the ascending line at 3095 level if 3167 failed. Its weekly candle looks bearish.

HSI close level on Fri already below its 2014 start 23306. we shall see if it can rebound back above 23306 in coming week. Given the possible Shanghai-Hongkong Connect is expected to be launched soon.( No exact date yet).

Uncle Dow Tumbled but Recovered Halfway at Close

The DJI had a hard tumble last night, with intraday loss of 460 points but managed to recovered most of its loss. It close with 173 points down.

The VIX or CBOE volatility Index, often viewed as a measure of market aniety, jumped 15% to 26.25, it crossed 30 intraday. It's very bearish if it crossed 30 marks for VIX.