Local banks continue to push past resistance to pursue new highs as STI strengthens. A surprising underdog as our local market is currently outperforming the S&P500 by a whopping 10%, considering that many, even locals, think that the STI is a boring and dead market. Of course, a large portion of this success must be credited to the big 3 banks, who carried most of the index for the large part of the year. What I want to see is how long can this strength continue, and even when it does retrace, how big will the pullback be.