In last week, STI lost 32 points from the opening of 3230 and close lower at 3198. A black candle stick with short upper/lower shadow indicates that investors have no qualm in the selling the stocks lower.

Key Economics Data report:

Federal Reserve Chairman Ben Bernanke may delay his plan to taper bond purchases past September because of this week’s surge in interest rates.

The 10-year Treasury yield jumped almost to 2.9 percent this week after better than expected jobs data Thursday. A six-year low in jobless claims may signal an improving employment market.

Technical Analysis on STI

STI fell much lower than the critical resistance of 3234 in last week as STI began to pullback on fears of US taper bond purchases.

1) In weekly chart, a black candle stick with short upper/lower shadow affirms that investors have begun to take profit off the table.

2) The weekly trading ...