In last week, STI lost 32 points from the opening of 2744 and close lower at 2712. A black candle sticks with little upper/lower shadow indicates that investors are fearful of the minor resistance at 2770 and choose to take profit.

Key Economics Data report:

In the past week, stocks have been rally on expectations that European officials likely to find a workable solution to the sovereign debt crisis, but hopes have repeatedly been tamped down as meetings have been delayed and key players remained apart on important elements. In this weekend, European leaders will meet Sunday, following talks Saturday between French President Nicolas Sarkozy and German Chancellor Angela Merkel.

There will be some major U.S. economic reports in the coming week and it’s the biggest week of the quarterly earnings reporting season, with 193 companies, nearly 40 percent of the S&P 500 reporting. Third quarter GDP, home prices, ...