STI Chart Review as of Jan 18, 2010

Following is the Weekly Chart for STI

1. The Weekly chart shows resistance at 2925 as defined by the Chikou Span (see highlighted points in yellow)

2. At the same time, both the Tenkan sen and Kijun sen are pointing upwards; a sign that the bulls is in place.

3. Price level is also above the kumo with the leading kumo trending up.

I expect that the STI will have a small pullback before advancing or attempting to break through 2925