DBS
The following is the chart of DBS from 1995 till now.
The 1998 AFC caused its to ended up in Supercycle Wave ((C)) following a recovery to a new Supercycle Wave ((1)) in 2000. However, for whatever reason, it went into Supercycle Wave ((2)) correction all the way till 2009, across 2001-2003 recession and 2008 GFC, probably due to fundamental issue of DBS. Supercycle Wave ((2)) ended in 2009 and since then it is on Supercycle Wave ((3)). This Supercycle Wave ((3)) is on a wave 3 extension run with Cycle degree Wave (1) and (2) completed in 2011. From 2011 till now it is doing the Cycle Wave (3) extension with Primary Wave 1, 2 and 3 completed. Present is the Primary Wave 4 correction, which probably terminates between 23.6% - 38.2% or 38.2% Fibonacci level. Thereafter shall be Primary Wave 5 to complete Cycle Wave (3). Another correction in Cycle Wave (4) will follow before the final up wave, Cycle Wave (5) to complete the Supercycle Wave ((3)). Thereafter should be another financial crisis and recession that results in Supercycle Wave ((4)).
OCBC
The following is the chart of OCBC from 1995 till now.
The 1998 AFC ended with Supercycle Wave ((C)). Unlike DBS, it managed to complete a new Supercycle Wave ((1)) in 2007 with Cycle degree correction during the 2001 - 2003 recession. The 2008 GFC ended with Supercycle Wave ((2)) in 2009. Since then, it is on Supercycle Wave ((3)). Like DBS, the Supercycle Wave ((3)) is on a wave 3 extension run with Cycle degree Wave (1) and (2) completed in 2011. From 2011 till now it is doing a Cycle Wave (3) extension with Primary Wave 1, 2 and 3 completed and now in Primary Wave 4 correction. This correction probably almost done as it is between 38.2% - 50% Fibonacci level already. The correction for OCBC is rather faster and deeper than DBS at this moment. Upon completion of this correction it will be on Primary Wave 5 to complete Cycle Wave (3). Thereafter shall be Cycle Wave (4) correction before the final up wave, Cycle Wave (5) to complete the Supercycle Wave ((3)). Supercycle Wave ((4)) should occur in the next financial crisis and recession.
The above Supercycle degree wave count is different from OCBC Analysis, this should be the more accurate one. Despite the different, the correction analysis in that post remains valid.
UOB
The following is the chart of UOB from 1995 till now.
Like both DBS and OCBC, the 1998 AFC ended with Supercycle Wave ((C)). Unlike DBS but like OCBC, it recovered and peaked in 2007 for the new Supercycle Wave ((1)). The 2008 GFC caused its to fall into Supercycle Wave ((2)) which ended in 2009. Since then, like the other 2 banks, it is on Supercycle Wave ((3)) doing a wave 3 extension. Cycle Wave (1) and (2) completed in 2011 and now is the Cycle Wave (3) extension with Primary Wave 1, 2 and 3 completed. Present correction is Primary Wave 4. It should probably terminate between 23.6% - 38.2% or 38.2% Fibonacci level. Upon completion of the correction it will resume the uptrend to finish Primary Wave 5 and complete Cycle Wave (3). Next, shall be Cycle Wave (4) correction. Thereafter will be the final up wave Cycle Wave (5) to complete Supercycle Wave ((3)). The next financial crisis and recession will trigger it to fall into Supercycle Wave ((4)).
Summary
To summarize, the 3 local banks are on a similar trajectory after 2009, all pointing to further upside before the next financial crisis and recession. The possible destination of Supercycle Wave ((3)) using statistical calculation, which really surprising as be it from top-down to bottom-up calculation all values converge, will not be revealed in this post to prevent misuse of information for personal gain.
If the 3 local banks are on a Supercycle Wave ((3)) uptrend, there is no reason STI is not following the same. Have came across an Elliott Wave analysis on STI lately citing STI could still be in the corrective wave since the peak in 2007, a decade of correction for no obvious reason ? On first look it is possible but after getting into detail wave count (in actual fact there are lot of flaws in that analysis saying STI still in corrective wave since 2009) coupling with the Elliott Wave count of the 3 local banks it is very difficult to convince STI is lagging so much behind and still in corrective wave.
