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Market Outlook (11/02/12): Stock Pullback Expected!
By Dou  •  February 12, 2012

In last week, STI gain 42 points from the opening of 2918 and close higher at 2960. A white candle sticks with long upper shadow affirms that rally was lack of conviction as there are strong profit taking.

Key Economics Data report:

On Friday, US Stocks finished with the biggest decline of 2012 and a spike in the VIX, volatility index, which was above 20 for the first time in nearly a month.

The Greek parliament will be expected to vote on new budget and austerity measures, against a backdrop of striking and protests. The Parliamentary vote was expected Sunday or Monday.

EU finance ministers will then meet to approve the Greek budget proposal Wednesday, which would clear the way for a $170 billion Greek bailout and allow it to avert default.

Technical Analysis on STI

STI index re-test the critical resistance at 3005 in this week but failed ...

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By Dou
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