Sometimes I wonder how come bad news coincide with technical reversal. Today STI actually gap down and broke its short term support. I am looking at next support at 3,160-3,170. For those who haven’t seen my earlier posting, please take a look at the posting of STI 22 Feb 13 (weekly/ daily) on my analysis of STI in near term. Let’s wait to see if STI gets supported at 3,160 – 3,170. I would also expect evening star candlestick pattern to form at the end of the week in the weekly chart.