In last week, STI gain 20 points from the opening of 2990 and close higher at 3010. A white candle sticks with little lower shadow affirms that investors have profit take slightly on the recent rally.

Key Economics Data report:

In the first quarter, S&P 500 has rise 12% and it represent a stunning year, and is even more so as a quarter.

Dow Jones Industrial Average Up 8.1% for the quarter to 13,212, sealing its best first-quarter point gain in its history as well.

There is already a general thinking that we have got past the worst of the European crisis and the world economy is gaining momentum. Thus investors are embracing the idea that it is safe to go back into the stock market again.

Technical Analysis on STI

STI index has closed slightly above the critical resistance at 3005 though this rally is lack of conviction.

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