U.S stock market bull continues to charge this week. S&P500 made an all-time high this week and closed near the high on Friday. So did Nasdaq 100.
It was a bad week for Hang Seng Index. It is now below the 21-day, 50-day, 200-day moving averages. This is not a good environment for individual stocks to perform.
The broad market statistics for HK market showed deterioration on all counts compared to last week. Interestingly, in China's stock market, the number of 52-week highs vs 52-week low has shown a marked improvement, although the percentage of stocks below key moving averages have shown a decline across the board compared to last week.
The Singapore stock market is showing some resilience this week in the face of weaknesses in other Asian markets like Australia, India, Korea, Thailand, Philippines. Singapore is a small economy and is strongly influenced by what happens to her neighbours. So, one had better be cautious about getting aggressive in Singapore stocks when neighbouring Asian markets are not doing well.
This post was a continuation of last week's market observation.