In last week, STI recover 95 points from the opening of 2748 and close higher at 2843. A white candle sticks with long upper shadow affirms investors remains cautious despite buying on the recent correction.

Key Economics Data report:

On Friday, reports on the zero job growth in August and the unemployment rate held steadily higher at 9.1 percent create concerns that the US is heading for another recession. It was the first time since World War II that the economy had precisely net zero jobs created for a month.

Technical Analysis on STI

STI index has broke the critical resistance at 2820 in this week but seems to be having issues in holding onto this level.

1) In weekly chart, a white candle sticks with long upper shadow affirms on profit taking of the recent gains.

2) The weekly trading volume falls though the market remains volatile.

3) MACD and RSI ...