In last week, STI merely gain 7 points from the opening of 3042 and close lower at 3049. A white candle sticks with little upper shadow indicates investors have buy on the strong support.
Key Economics Data report:
The third quarter is the first in three years, where profits are actually declining. Earnings for the S&P 500 companies were expected to be off 1.8 percent for the quarter. In the coming week, more than 150 of the S&P are reporting earnings news. However there are also a two-day Fed meeting; the final presidential debate Monday, and important economic reports that include housing data and the first look at third-quarter GDP.
Technical Analysis on STI
STI index had re-test the critical support at 3030 for the 3rd time and managed to rebound again above this level.
1) In weekly chart, a white candle sticks with short upper shadow indicates on ...
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