In last week, STI gain a solid 99 points from the opening of 3084 and close higher at 3183. A white candle stick with short lower shadow affirms that investors are bullish on the market ahead and have no hesitant in buying higher.

Key Economics Data report:

The investors are anticipating as if it were inevitable that Congress would raise the debt ceiling, The breakdown of negotiations on Friday has jolted that sense of equanimity, wrenching the worst-case scenario from unthinkable to merely unlikely.

Some of the options to raise the debt ceiling involve smaller packages of spending cuts, might not be sufficient to satisfy S.& P. or Moody’s and Fitch, two other rating agencies that have expressed concern over the debt negotiations.

If nothing changes over the weekend is that the talks have broken down, the market will likely react to this on Monday.

Technical Analysis on STI

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