Good evening, above is a daily chart of the STI. Major support is 2700, major resistance is 2900. The STI has been moving in a volatile, sideways movement since late Jul 2011. Key concerns now are the EU debt crisis, persistent high unemployment in US, and the US government's suit against 19 banks for fraud in their sale of mortgaged backed securities to Freddie Mac and Fannie Mae. Of immediate concern now is the EU debt crisis. Until that is resolved, i believe markets will continue to be volatile and weak.
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