Weekly Wrap

STI ended with a bullish weekly candle. It gained 100.1 points or +3.5% to closed at 2978.55 this week. STI have had 278 points or 10.3% gain over past five weeks, from 2700 all the way run up to 2978. Stock never go up or down in one straight line, I will be stay cautiously for a possible retreat in coming week, as STI is approaching its important resistance level 2990( or 3000 max). As for the downside, first major support level I will be watching is 2900.