After trading sideways for a month since late August 2009, the benchmark STI finally managed to push past 2700 and skyrocketed to hit its current year to date high of 2785 on 16^th November 2009. Studies from indicators suggest that further upside potential lies ahead for STI. The MACD had a bullish crossover above its signal line and the RSI oscillator had started to inch above the 50% level which suggests that upside momentum is building up. On the upside, be on the lookout for the next immediate resistance at 2840 and above it may open up scope to target the next key classical resistance at 2997 which corresponds closely to the 61.8% Fibonacci retracement from its all-time high of 3906 to its March 2009 low of 1455. However a violation below its immediate support at 2690 may negate bullish tone and see another round of sell-off to test the next classical support at 2600.