Shares & Derivatives
Market Outlook (30/04/11): Sell In May And Go Away?
By Dou  •  April 30, 2011

In last week, STI falls 15 points from the opening of 3195 and close lower at 3180. A black candle sticks with lower shadow indicates that investors continue to take profit off the table as index approaches the 3214 resistance.

Key Economics Data report:

The coming week economic data holds the US ISM manufacturing survey, monthly auto, chain stores sales and most importantly the April jobs report due Friday. Economists anticipate that 190,000 jobs were created in April, which decline from March’s 216,000.

Another important trend will be monitoring the direction of the U.S. Dollar which has been weakening daily. Many analysts expect US dollar to fall and precious metals and oil to rise in the coming weeks ahead.

Technical Analysis on STI

STI index remain supported at the 3180 as investors are still bullish on the earnings report ahead.

1) In weekly charts, a black candle stick with lower ...

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By Dou
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