In last week, STI falls 33 points from the opening of 3169 and close lower at 3136. A black candle sticks with lower shadow affirms on the strength of the support at 3070 as bargain hunters come in at this level.

Key Economics Data report:

The coming week focus will be on the May Job report due Friday and also monthly auto sales and May ISM manufacturing data Wednesday.

Traders will also keep a close eye on Europe where the leaders continue to struggle for the Greek debt crisis.

Another important event is the end of the Fed’s quantitative easing program at the end of June and the Congressional dithering over the U.S. debt ceiling which must be resolved by August.

Technical Analysis on STI

STI index has re-test the support at 3070 and rebound from this level.

1) In weekly chart, a black candle stick with lower shadow similar ...