Is the Singapore stock market going into a correction phase?

Economic data has shown that the world markets are contracting at a slower rate. However, the Singapore manufacturing index went above 50 for the first time in 9 months, a sign of growth. Most analysts would suggest that a pullback would be coming anytime soon. Already the last few days, markets have shown signs of correcting already.

The STI is already vertically parabolic and it badly needs at least a 15% pullback before the market can further north.

I have sold most of my shares to take profits and will buy them back when the market drops 15% from the recent high.

STI now is at 2230.