In last week, STI lost 31points from the opening of 3041 and close lower at 3010. A black candle sticks with short upper/lower shadow indicates hesitant on the future direction for the stock market.

Key Economics Data report:

The US major stock indexes posted declines for the week, with the S&P 500 and the Dow industrial suffering their worst week since June 1 as measured by their weekly percentage drops.

Dow Jones Industrial Average end at 12,815.39 and dropped 2.1% for the week.

S&P 500 end at 1,379.85 and declined 2.4% for the week. Technology led sector gains Friday, while utilities performed most poorly among the 10 industry groups.

Technical Analysis on STI

STI index had re-test the critical support turned resistance at 3030 and failed to recover above this level.

1) In weekly chart, a black candle sticks with short upper/lower shadow affirms the market are ...