Dear all We are two months into 2022. How is your portfolio doing? With reference to my writeup (click HERE) published on 17 Feb 2022, I mentioned that STI is likely to face headwinds in the near-term and SG banks’ share prices are likely to peak around 7-18 Feb based on past observations. Coincidentally

6. a) STI peaked on 17 Feb. In fact, STI has tumbled 6.9%, or 239 pts from its intraday high 3,466 on 17 Feb to close 3,227on 4 Mar. Last Friday’s intraday low was 3,208. More about its chart below.
7. b) Banks – DBS peaked on 14 Feb and OCBC & UOB peaked on 17 Feb.

Based on Table 1 below, all our three local banks have dropped approximately 11.4% – 14.2% from its recent high. Table 1: Banks’ share price percentage drop from its recent peak Source: Ernest’s compilations; Bloomberg Given that markets have...