Dear readers, STI has hit highs last seen on Apr and Jul 2016, powered by our local banks. Can this sustain? Read on for more. S&P500 Index Just to recap what I have mentioned on 25 Nov 2016 (see HERE), I wrote “S&P500 is on a clear uptrend. All the exponential moving averages (“EMAs”) are rising with 21D EMA forming golden cross with 50D EMA on 10 Nov 2016. Amid positive placed directional indicators (“DIs”), ADX continues to move higher from 28 on 11 Nov 2016 to 31 on 25 Nov 2016. It is noteworthy that indicators such as RSI, MACD and OBV have not hit new highs with price, thus there may be some bearish divergence. Furthermore, RSI closes at 71 on 25 Nov 2016, near a two-year high since Nov 2014. Thus, there is a possibility that near-term potential upside may be limited to around 2,225 ......