The following is a Supercycle to Primary degree Elliott Wave analysis of the 3 local banks -- DBS, OCBC and UOB. It is not meant to analyze the detail present correction but rather as a guide of how their impact on STI in general. Due to the weightage of the 3 local banks on STI, their price performance play a key role in determine the direction or trend of STI. The process of deciding the Supercycle wave count shall not be covered and the stated will be the valid or highly possible one.
DBS
The following is the chart of DBS from 1995 till now.
The 1998 AFC caused its to ended up in Supercycle Wave ((C)) following a recovery to a new Supercycle Wave ((1)) in 2000. However, for whatever reason, it went into Supercycle Wave ((2)) correction all the way till 2009, across 2001-2003 ...
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