Saturday, August 2, 2014

Weekly Market Reivew K200

K200 closed at 268.56 on Friday, 1-Aug-2014, gained 5.09 (1.93%) over the last 5 trading days.

As you can see from the chart, the first 3 days were almost a straight line up.  Each day gain was more than 2 points, with the 3rd day more than 3 points!

This week is a rare strong week for K200.  If not for the S&P500 2% drop, it might went up even higher.  In fact, the drop following S&P500 2% dop is only mere 0.55% drop.

In last week post, I mentioned that K200 has room to go towards 267-268.  It not only shot past 267-268, it even break the high October 2013.  It in fact end exactly at 272.83 as April 2012.  This seems to be a strong resistance.  If this is broken, then K200 will be heading to 295!

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