STI in the red for consecutive 8th trading sessions

STI had dropped by 6.4% from the recent high of 2964 points to today closing of 2773 points. This mark the consecutive of 8th trading days losses. Reasons for the weakness were the general worry over global growth starting in China, growing awareness that monetary stimulus by central banks has not worked, volatility in the oil market and concerns over whether US interest rates will continue to head upwards.

With all these negative sentiments, are we heading into bear run again or is it the effect of "Sell In May And Go Away" myth? One of the main reason I believe is, most of the stocks are going into exercise dividend in May and June period after the recent announcement of their financial earnings and together with the negative sentiments, this trigger a bigger fall than expected with referenced to the dividend payout they are paying to the shareholders.

My approach towards this episode is to stay on the sidelined first and observe if there are more bloodshed to come. With a small correction of 6.4% does not attract me to take out my warchest and deployed them. Probably a 20% correction or so, I will take action.