Index Weekly Wrap for the Week of Sep 28

US technology stocks closed up this week but DJI and SPX down from their peak. All three indexes major uptrend are well intact, no immediate reversal signs.

In Asia, STI poised for 3rd week rebound in a row, Shanghai stock index in 2nd week up from its bottom too, hit 8 weeks high  ahead of China long holiday. Sentiment has turned to bullish over past two weeks. HSI was resisted just below its 28000 level and major uptrend line that support-turn-resistance.

Major indexes weekly performance and weekly charts are as follow.

Index Weekly Wrap for the Week of Sep 21

US stocks DJI index hit fresh new high, joining SPX and Nasdaq which already getting higher and higher. The fear index VIX dropped to 11.68, shows traders no fear at all for next 30days.

Asia stocks rebounded up significantly as well. SSE soared up 4.35 this week, bottom rebounding and hit 6-wk new high, HSI rebounded to its 3-wk high as well and back up above its major uptrend line.

Singapore STI index rebounded back to 3-wk new high, above its major resistance 3167-3200 level which is a bullish sign. Major indexes weekly performance and weekly charts are as follow.

Index Weekly Wrap for the Week of Sep 14

US stock continue getting higher, no reversal yet. The fear index VIX fell 18.9%  to 12.07 from previous week 14.88.

In Asia, HSI led the rebound with 1.2% gain this week, after fell to new low intra-week. STI rebounded from 3100 support. SSE rebounded from its key support level 2650. All major indexes are rebounded from or at their key support, their possible technical rebound going forward.

Major weekly index performance and weekly charts as follow.

Index Weekly Wrap for the Week of Sep 7

World stocks dropped this week, haven't seen for sometime as it always the US stock keep going up and rest of the world keep going lower. And This Week Might Be A Turning Point, the US stock turned down after hitting new high, led by the sell-off of technology stocks(FAANG). It's not seen since Mar the COMP index dropped for 2.6% in a week.

On the other hand, the fear index VIX spiked up 15.7% to 14.9 this week, and USD dollar rebounded back up again ended three weeks down. The dollar index $DXY has been risen for 7.4% from year low in Feb, indicated downside risk is increasing and money are flowing to "safe heaven".

In Asia, HSI index broke down its major uptrend line decisively and hit new low this week, STI index hit new low and broken below its major support 3167 level as well. This week is a turning point for both indexes. While the worst performer SSE index was just holding above 2700 level, looks weak and anytime soon can go down lower...

The US-China trade war pulled out by US President Mr. Trump aims to reduce its trade deficit with China seems not working out to its purpose... at least by now. Latest numbers show China's trade surplus with US grows to new record in Aug. Refer to below major indexes weekly performance and weekly charts.

Index Weekly Wrap for the Week of Aug 31

US stocks hit new high again this week, the Nasdaq(COMP) and SPX hit all time new high, and DJI is about 650 pts away to its previous high of 26616.71. The technology heavy weighted COMP and SPX are seen extended its run up.

In Asia, stock is generally much weaker as compare to US peers, indicating equity funds continue flowing out of Asia and into US. STI is just above its key support area 3200-3167, further downside is expected IF the key support can't be held in coming week(s).

Weekly major indexes performance and respective weekly charts below.

Index Weekly Wrap for the Week of Aug 24

US stocks hit fresh new high for SPX and Nasdaq($COMP) and DJI is less than 3% away from its historical high. The US stocks seem unstoppable by whatever trade-war and trump crisis. There is no signs of bearish reversal on the charts. 

But according to the famous Buffett's  Indicator, the stock market is Significant Overvalued, based on historical ratio of total market cap over GDP(currently at 146.5%). The United States historically has a total market cap to GDP ratio of 35% to 149%. Thus, the United States is very close to the top end of its valuation over the past one hundred years. This is very much a flag that things could be overvalued.

In Asia, the three major indexes that I'm following are all at or rebounded from their respective major support levels. The SSE index rebounded from its support level 2650 this week, HSI index rebounded from its long term uptrend line support this week(as shown in below weekly chart).

STI is at its major key support level 3200-3167 level. It's been touched multiple times since 2017, taking note that the index has broken down its major uptrend line( as shown in below weekly chart).

Index Weekly Wrap for the Week of Aug 17

US stocks are heading to new high while the rest of world's stocks struggle. US stocks getting a boost as it reported US-China leaders to meet in November. All three major indexes uptrends are well intact.

While the SPX is up more than 6% and less than 1% away from new highs, the rest stock markets are having a tough 2018.

Read more at https://www.cnbc.com/2018/08/17/the-rest-of-the-world-is-feeling-pain-from-tariffs-and-a-strong-dollar.html 

STI fell to its just above its recent low, watch out for key support area 3167-3200 in coming weeks. Further downside would expected if it drops below this support.

HSI and SSE fell more than 4% each this week. Sending HSI index to its new low, breakdown its 6 week consolidation range. While SSE dropped to its low since 2016 where it rebounded.