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Market Outlook (22/09/12): STI Rally Has Lost Strength!
By Dou  •  September 22, 2012

In last week, STI merely gain 8 points from the opening of 3070 and close higher at 3078. A black candle sticks with little lower shadow indicates investors are mindful of the critical resistance at 3088.

Key Economics Data report:

In the coming week, quarter-end Friday could bring some portfolio adjustment as investors lock in some gains where the stock market’s 16-percent rise has surprised everyone.

Looking forward, there are data on housing and the consumer data. There are also be more companies issuing per-announcements on earnings, as the global slowdown holds back revenue growth and bites into profits.

Technical Analysis on STI

STI index had re-test the critical resistance at 3088 for the 2nd time and yet again failed to break above this level.

1) In weekly chart, a black candle sticks with short lower shadow indicates on slight profit taking by the investors.

2) The weekly trading volume drops ...

...
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By Dou
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