Singapore stockmarket outlook in 2017

Based on the 3 comparable periods (early 2003, early 2009 and early 2013), this index has between 4 - 50 months to run upwards.

However, January 2017 is more similar to the earlier two time periods on two fronts:

- RSI breaking up through 50 points


- MACD hooking up bullishly after more than a year in the bear camp


The Stochastics indicator however, makes early 2013 more similar to the current period due to their shared 'mid-level hook up', a feature absent from the previous two periods.

Having apparently cleared the 3,000 psychological level, the next target would be the other century marks, culminating in a retesting of the 3,550 level which was the high watermark in May 2015.

Any fundamental reasons for such a bullish outlook? Not being a macro person, I can only speculate but it seems to me the bullish US indices were bound to drag the STI up eventually, and the latter is giving a clear sign that the magnet of the soaring US equity indices is finally having a delayed effect on the steel of the S'pore index.