In last week, STI lost 32 points from the opening of 3185 and close lower at 3153. A black candle stick with little upper/lower shadow affirms that index is range bounding aimlessly along the critical support at 3148.
Key Economics Data report:
2011 has to be bullish!
That’s certainly the sentiment of the Wall Street’s economist who predicts that S&P 500 will be gaining double-digit and finish 2011 at 1400 or higher due to improving global economy and better earnings ahead.
In the next two holiday weeks, investors are most probably sitting on the sidelines and trading volume for US markets are expected to be low.
Important US Economics Announcement:
Wednesday: 2nd revision to 3Q US GDP
Thursdays: Weekly jobless claims, personal income and consumer sentiment.
US Markets are closed Friday for the Christmas Eve.
Technical Analysis on STI
STI index continue to trend directionless under low trading volume ......
