In last week, STI merely gain 6 points from the opening of 2988 and close higher at 2994. A white candle sticks with little upper shadow affirms that investors taking profit instead of buying higher

Key Economics Data report:

In the coming week, there are about 180 S&P 500 companies reporting earnings.

PMI manufacturing data from China and the euro zone is also expected early Monday morning and that could also start the week with a focus on the global economy. U.S. data includes new-home sales and home-price data Tuesday, weekly claims Thursday and the first look at first-quarter GDP on Friday.

Technical Analysis on STI

STI index has closed lower than the critical resistance at 3005 as investors prefer to en-cash over the weekend.

1) In weekly chart, a white candle sticks with short upper shadow which indicates profit taking and hesitant of the rally.

2) The weekly trading volume ...