In last week, STI lost 18 points from the opening of 3078 and close lower at 3060. A black candle sticks with little lower shadow indicates investors begin to take profit on the critical resistance at 3088.

Key Economics Data report:

Investors expect October to give the markets a scare, starting with news on the economy and jobs in the week ahead. After a surprisingly good performance in the third quarter, the thinking is the stock market is ready to pull back, especially after a few choppy sessions and a new batch of data that should continue to show a slow-moving economic.

As the government closes the books Sunday with a $1.1 trillion deficit for the year, which required borrowing 32 cents for every dollar it spent, budget analysts have little confidence in government plan to address the accumulating debt, now at about $16 trillion.

Technical Analysis on STI

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