Saturday, June 21, 2014

Weekly Market Reivew K200

K200 closed at 255.31 on Friday, 20-Jun-2014, lost 3.44 (1.33%) over the last 5 trading days, mainly from the large down of 3.52 on Friday.

In the last two weeks, every big drop came with a small rally/retracement but ended with lower high.  And every drop ended with lower low.  So, K200 is in a short term downtrend, ignoring all the record high in S&P, DOW, etc.

However, looking at the bigger picture.  K200 is in its retracement of a uptrend.  Looking at its previous few retracement, it had been in the range of 76.40%-100% retracement.  K200 could be another 1-2 points down to about 253.35 before it resume its uptrend.  Let's see.

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