A look at STI and SPX and the banks

The SPX broke into new highs again, will this be a false breakout? How will that affect the STI?

STI looks set to break up and head to 2973 - 2994.

DBS looks like its forming a wedge. Price consolidation is too long to be a pennant/ flag. I think next week STI will show its form.

OCBC looks like a inverted head and shoulders forming, with the neckline at 9.40. a break of the neckline will target 10.30.

 

 

Another look at a different angle, OCBC could be in a channel targeting 7.0 - 6.80.

 

UOB looks ready to break out.

Disclaimer: I am not long any of the bank stocks. It will be interesting to see what happens next week.