In last week, STI merely gains 12 points from the opening of 3139 and close higher at 3151. A black candle stick with long lower shadow affirms that investors began to take profit off the table as the index approaches the critical resistance at 3180.

Key Economics Data report:

US released data on Friday that the unemployment rate hit a six-month high of 9.2 percent in June, while nonfarm payrolls grew by a mere 18,000 last month. The lackluster jobs growth stunned most economists, as the median of forecasts was for growth of 90,000.

Most economists gave a 20 percent chance that the Fed will do a “QE3″ type stimulus program in the next two years and expect the Fed to hold interest rates steady at the current range of zero to 0.25 percent through the first half of 2012.

As the Q2 earnings season begins in the ...