Fundsupermart has an excellent article here on the statistics of the past STI market corrections which I have been feeling too lazy to compile. The statistics were compiled from 1987 to 2007, spanning 4 bull markets with the exception of a partial recovery from the technology recession in 2001 being stopped by SARS and the Gulf War.

Distribution of corrections:

(Taken from fundsupermart)

Median level of corrections : -8.6%
Average level of corrections : -10.6%

Duration of corrections

For corrections of 4% from any peak,

• Takes place once around 155 days or around twice each year
• Average correction last 46.5 days
• Median correction last 24 days

Going by the above statistics, the current correction in the STI market is probably over the market has corrected by around 8.5% and this correction has lasted for around 25 days. Congratulations to those who have bought in or added on to their positions. Meanwhile, it will be prudent to wait for the next correction.