STI has recovered from the recent low of 2531.79 points on 12 Feb 2016 to the closing price of today at 2823.51 points. A good 11.5% recovery for a period of one month. So what has triggered this bull run? I treat the current rise as a strong counter-trend rally rather than the start of a new bull market. Given the sharp rise over the past 1-2 weeks, we should be expecting a pullback from the 2840 level. Traditionally, March to April period is a benign period for Singapore market as blue chips tend to be well supported ahead of their XD period.
Technically, we are experiencing a slight recovery in the short term. Whether it will continue to rise to STI 3000 points and above, I am not too sure whether we will see it after the XD period. One thing for sure is, I will ......