In last week, STI merely gain 5 points from the opening of 3444 and close higher at 3449. A white candle stick with short upper/lower shadow similar to a “Doji” indicates the lack of direction of the market.

Key Economics Data report:

Bullish momentum should drive stocks higher in the week ahead as markets watch to see if Federal Reserve Chairman Ben Bernanke weighs in on whether the economy is strong enough to justify paring back on Fed bond buying any time soon.

The debate about whether and when the Fed should start trimming back on its bond-buying program was underway in markets this past week, and was further fueled by the comments of Fed hawks. It also has made the Fed chairman’s economic testimony before the Congressional Joint Economic Committee Wednesday even more important.

Technical Analysis on STI

STI seems to slow down in this week as investors ...