Weekly Wrap

The US stocks have been stuck in a tight trading ranged for two months, though the three major indexes are still trading above their key support level in a uptrend. Awaiting for Nov 8 president election result?

In Asia, markets looks rather bearish than bullish. No positive news except the Shenzhen Hongkong stock connect is going to start in November.

STI has been range trading between 2880- 2800 for more than two months as well, and it's slowly drifting downward. This week it just closed above its immediate support level 2800.

SSE too in sideway trading for months, but slightly on a bullish tone, above its key support 3000.

Major indexes weekly performance as in below.

Weekly Wrap

US stocks ended the week with little change, hovering their key support level with no clear direction, though major uptrend still well intact for all three US indexes.

STI rebounded 0.6% after previous week flush down. It is now just above 2800 key support level but just beneath its major ascending line. Indecisive. A break below 2800 would be a clear bearish sign, otherwise 'em stay bullish cautiously. Immediate resistance is 2882YEC.

HSI had only 4 trading days this week due to typhoon. It's up by 0.6%, in uptrending consolidation mode now. The index is the top performer with 6.7% gain YTD. Whereas SSE still the worst performer with 12.7% loss YTD. SSE is on bullish tone, trading above its key support 3000 level.

Weekly Wrap

US stocks selloff this week, DJI, SPX and COMP all hit their respective key support levels, as shown in below weekly charts. Uptrending has been well intact so far.

In Asia, Shanghai rose 2% this week, reclaimed 3000 level. It has been hovered around 3000 level for more than two mths so far. Bullish sign for bulls as long it can hold above this key level.

STI was sell-off hard this week, hit three month new low of 2783 and managed rebound just above 2800 key support level. It just closed beneath its main ascending line as shown in below weekly chart. See if it can rebound in coming week, immediate support level is 2800 then 2780.

HSI sold off this week as well, lost 2.6% to 23233, hit six-week new low marginally, it has been in consolidation for six weeks as well. Curently at upper channel line(resistance).

weekly Wrap

US stocks closed lower this week, as investors worrying about Fed move for rate hike.

HSI has been range trading for 4th week, best performer as investor is welcoming the Shenzhen-HK Stock Connect, expected to kick start in Nov. Investors are buying up big discount AH shares.

STI has been trading in the range of 2882-2800 for 10 weeks already, a close above 2882YEC is bullish sign.

SSE closed for golden week holiday this week and will resume trading coming week.

Major indexes weekly performance and charts below.

Weekly/monthly Wrap

US markets closed positive for the week. All three major indexes are above their major support level, uptrend in good shape. DJI, SPX and COMP rose 0.3%, 0.2% and 0.1% respectively.

STI has been trapped just beneath key resistance level 2882YEC for two months, continue watch for a close above 2882YEC for further upside move.

HSI lost 1.6% for the week, retraced down into its uptrend channel as shown in below weekly chart.
SSE will be closed for one week holiday in coming week.

Major indexes weekly performance as in below.

Monthly performance for Sep.
HSI in 3rd week gain, STI in 2nd month consolidation, SSE in 6th month consolidation
Both DJI and SPX in 2nd month entrancement after hitting new high, whereas COMP in 3rd month gain, hit new high.

Weekly Wrap

US markets in 2nd week rebound. Technology stocks especially strong, whiel COMP index hit new high to 5305 points. SPX and DJI both are still above their key support level, uptrend well intact. Bulls are in charge.

HSI is the top performer this year with 8.1% YTD. It gained 1.5% for the week.

STI is supported by its ascending line 2800 but under pressure for 2882 YEC level. Clear direction if break either side.

Weekly index performance table as below:

Weekly Wrap

US markets rebounded this week, after flush-down last week. The three major indexes rebounded from their key support level, uptrend still well intact.

STI lost 1.6% this week but managed to stay just above its key ascending line. Immediate support is 2800 level, resistance is at 2882 YEC level, if it continue rebound in coming week.

HSI and SSE had shortened trading week due to mid-autumn festival holiday. HSI lost 3.2% fell back inside its uptrend channel, as shown in below chart.

Macau Casino Sector Expected Further Rebound

Macau gaming/casino stocks seen rebounding from rock bottom after suffered two years loss between 60-90%. Time to consider take some shares.

Stocks such as MGM China 2282.HK, Sands China 1928.HK and Galaxy 0027.HK all demonstrating bottom rebounding.