Dear readers, the Straits Times Index was around 3,200 yesterday.
With the recent volatilities in the stock markets, there is a high likelihood that the STI could continue to head lower. But by how much lower?
Will we be looking at a 2,240 for the STI by Oct 2022?
How do I get the above figure in the first place?
Well, Bank of America has commented that the S&P 500 could tumble another 28% before the bear market ends in October.
And hence, if the STI follows suit and goes south by 30% discount, the STI would reach 2,240 by Oct 2022.
The above is not an unlikely scenario given that the STI has gone to 2,233 before in March 2020.
Ready for the stock market corrections ahead?
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