A short signal has been issued on 240222 at 3362 that targets the weekly pivot at 3226. A pullback below 3226 will target the monthly pivot support at 2857 which will put the STI back into a broad trading range between 2600 and 3600 since 2009.
The bank rally in DBS OCBC and UOB has stalled with pullbacks to the weekly supports and only 4 component stocks in the STI are in multiply time frame uptrends by the month ending Feb 2022.
LONG TERM UPTREND since 010321
MEDIUM TERM UPTREND since 071120
SHORT TERM PULLBACK since 240222
PIVOT 3445
Short positions below 3445 for 3226 and 2857
Long positions above 3445 for 3641and 3906
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