In last week, STI gain 67 points from the opening of 3120 and close higher at 3187. A white candle sticks with no upper/lower shadow indicates that investors are bullish on the earning reports and no hesitant in buying higher.

Key Economics Data report:

On Friday, US President Obama and congressional leaders have reached a last-minute budget deal and avoid a government shutdown. The deal would be a plan for $39 billion in spending cuts presented to House Republicans closed-door.

A shutdown would crippled on the U.S. economic recovery and potentially make hundreds of thousands of workers jobless

Technical Analysis on STI

STI index has been broke the resistance at 3180 and closed at the highest level for the week.

1) In weekly charts, a white candle stick with no upper/lower shadow affirms that the market sentiment remain bullish on stocks.

2) The weekly trading volume rose slightly as investors continue ...