In last week, STI lost another 24 points from the opening of 3185 and close lower at 3161. A black candle stick with long lower shadow similar to a “Hammer” indicates the bargain hunters began to come in to swoop up the stocks.

Key Economics Data report:

The U.S. Federal Reserve likely to quell investor panic over the potential tapering of its bond-buying program. Speculation over whether Fed will pullback its $85 billion a month bond-buying program and the timing of that, has led to volatility in global markets, particularly within Asia. Japan’s Nikkei, for example, has plunged near 20 percent from its five-and-a-half year high hit on May 23.

The Fed meets next Tuesday and Wednesday and Fed Chairman Ben Bernanke will use the opportunity to reiterate that there will be a considerable period of time between the end of quantitative easing (QE) and raising short-term rates, ...