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Market Outlook (01/12/12): STI Fearful Of 3088 Resistance?
By Dou  •  December 1, 2012

In last week, STI gain a solid 81 points from the opening of 2989 and close higher at 3070. A white candle sticks with short upper shadow indicates on the slight profit taking on the rally.

Key Economics Data report:

The cliff negotiations between the White House and Congressional Republicans seem to be going sideways with no progress on taxes or spending cuts.

For the coming Friday’s jobs report, the consensus forecast among Wall Street economists is that 100,000 nonfarm payrolls were created in November and the unemployment rate stays unchanged at 7.9 percent. That is down from 171,000 payrolls in October.

Technical Analysis on STI

STI index had breached the resistance at 3088 in this week and close slightly below the resistance.

1) In weekly chart, a white candle stick with short upper shadow affirms on slight profit taking.

2) The weekly trading volume rises as investors buy strongly on ...

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By Dou
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