Weekly Wrap

For the week, STI surged spectacular 7.4% or 205.35 points to close at 2998.5, just beneath 3000 mark. Next level to watch is at 3060, which is its 50% fibonacci level as well as major support turn resistance level.

Other major markets in US and Asia rebounded strongly too. HSI next level to watch is 23600.
Shanghai index not breakout its immediate resistance level 3200 yet, more upside if it can close above this level in coming week, also a sign to confirm bottoming out for SSE.

The DJI index rebounded 3.7% for the week, crossed above its 50% fibonacci level. Market is more in bull's camp now.

Weekly Wrap

Markets rebounded this week, except for Shanghai and STI. Shanghai market closed for holiday and will be resume trading on Oct 8, next Thur.

Stocks are quite volatile this week, they are sold off early but rebounded in late week, recovered all or most loss. HSI hit new low on Tue since Jul 2013 then quickly recovered on Thur and Fri.

US three major indexes have been trading within its prior weekly range in last month, hit bottom and rebound. Mostly in consolidation mode.

STI looks very weak as compare to its peers. it broke below its consolidation range, hit new low since Jun 2012, managed recover a bit only. Weekly closed with 1.4% down. No bullish reversal sign seen yet.

Weekly Wrap

Market is relatively quiet this week, all the six major indexes in my list below traded within the range of previous week--a sign of consolidation. Only a break above or below these range could provide a clearer direction. So let's wait and see how they unfold in coming week(s).

With the quit similar pattern, we can see how the world markets are interrelated.

Weekly Wrap

US markets sold off hard on Friday, DJI weekly chart ended with a very bearish candlestick, SPX and COMP ended also bearish. It appears to me this round of rebound probably comes to the end, downtrend is going to resume. Refer to below DJI weekly chart.

STI had a quiet week, was trading within its previous weekly range. Volatility is low.

Shanghai index was trading within its previous weekly range too. Market sentiment still bearish, with no signs for rebound.

Weekly Wrap

World major markets rebounded for the week, HSI was up 3.2%, on top of my list, whereas STI gained merely 0.8%, we have only four trading days this week due to General Election on Friday.

Are we going to have post election rally for stock market here? unlikely based on historical data.

Most indexes are trading within their three weeks trading range with lighter volume-- a sign of consolidation. It can be rebound or go down further after that. So there is no clear directly here now.

We shall monitor their immediate support / resistance level for early signs of direction.

Weekly Wrap / Monthly Index Performance for Aug

Major indexes sold off hard for the week again. Invalidated previous weekly bullish reversal sign. Bears are gain more power to push down further in coming week.

Monthly Index Performance for the month of Aug as below:

Weekly Wrap

Finally, after five weeks of black candle, market rebounded this week. Probability of market rebound in the cards for coming week(s).

The US three indexes closed green. DJI and SPX have formed a nice bullish candlestick on their weekly chart respectively. Markets are set for a rebounce in coming week.

The badly sell-off Asian markets come to a breath as well. STI formed a bullish reversal candle too, following HSI and SSE's rebound in the week.

For Singapore market, continue focusing on index stocks such as the trio banks and Singtel, SGX.

STI Falling Into Bear's Prey

STI closed at 2873 today. It dropped more than 20% in previous two days but managed to pull off up a bit by now. By definition, a loss of 20% over a period at least two months will be considered as bear market. Loss of 20% for STI is below 2839 level.

I decided to update on STI as to answer a reader's enquiry as well. In below weekly chart (though this week is incomplete). 

It looks to me there is no bottom yet, immediate support level to monitor will be weekly low of 2808, no signs of bullish reversal yet, further downside if broken. 2700-2600 cluster at the end of 2011 should provide major support.