In last week, STI gains another solid 49 points from the opening of 3212 and close higher at 3261. A white candle stick with long upper shadow affirms that STI broke through the 3250 resistance though investors began to take profit on recent gains.

Key Economics Data report:

The prospect of a promising fourth-quarter earnings season and another week of better U.S. economic data could provide boost the market higher.

US analysts estimate earnings, excluding the financials to grow approximately 11 percent for the S&P 500 companies in the fourth quarter. With financial companies included, that number rose to 32 percent.

News on European sovereign debt near record as investors fear on the financing ability of the weaker sovereigns. Another factor was the European Commission suggests allowing regulators to write down senior bank debt of failing banks.

Important news to note in the coming week is China’s trade data ...