In last week, STI lost 64 points from the opening of 3010 and close lower at 2946. A black candle sticks with short upper/lower shadow indicates investors have no hesitant in selling the stocks lower.

Key Economics Data report:

Markets could see another volatile week as investors remain anxious about the “fiscal cliff”. Stocks sold off in the past week, but closed higher Friday after Congressional leaders made encouraging comments about negotiations on the fiscal cliff.

The week ends with a shortened trading day on Black Friday, the traditional start to the holiday shopping season.

Technical Analysis on STI

STI index had re-test the critical support at 2930 in this week but manged to rebound on this level.

1) In weekly chart, a black candle stick with short upper/lower shadow affirms on the market are in the selling off mode

2) The weekly trading volume rises as more investors sell on the ...