In last week, STI merely gain 2 points from the opening of 2916 and close higher at 2918. A white candle sticks with upper/lower shadow affirms that rally was getting weaker as it climb higher.

Key Economics Data report:

In last Friday, US January jobs report was a major surprise which causes investors to speculate economic growth may be better than 2% expected this quarter, and that the Fed will now be less likely to ease again.

The Chicago Board of Options Exchange’s VIX, a volatility measure and also a market fear gauge, fell nearly 5 percent Friday to 17.10, its lowest level since last summer. There’s no fear in this market right now.

Technical Analysis on STI

STI index re-test the critical resistance at 2936 in this week but failed to break out.

1) In weekly chart, a white candle sticks with little upper/lower shadow affirms that investors ...