What's next for the STI?

As expected, the STI tested the 2450 resistance level yesterday but failed to close above it. So what's next?

I think it's not ready to break out of its trading range yet since it is taking its cue from the US market, which have yet to clear the critical resistance levels at 11257 (DJIA), 1280 (S&P500) and 2100 (Nasdaq). So in the short term, regardless whether National Day is coming next week, I think the local bourse will mostly be driven by external factors although there will be some rotational plays among those companies which are about to release their corporate results soon.

Technically, in the next one week or so, I expect the STI to trade between 2400 - 2456.