In last week, STI fall 34 points from the opening of 3187 and close lower at 3153. A black candle sticks with lower shadow affirms on the weakness of the rally and investors are hesitant on buying higher.

Key Economics Data report:

On Friday, Dow rose 57 points (0.5%) to close at 12,342; however the index is off 0.3% to snap a three-week run of weekly gains.

The gain in stocks on Friday came due to core consumer prices merely increase 0.1% in March which provides US government with breathing space to continue its $600 billion bond buying program.

In additional, there are data due Friday showing that manufacturing in the New York region rose to a one-year high in April on a surge of new orders.

Technical Analysis on STI

STI index has re-tested the support at 3120 and rebounded to close at 3153 in this ...