Stretching Out?
It appears that the STI is stretching out the correction by going further sideways. I’m maintaining the optimistic wave count by taking all the sideways movement as Minor Subwave ii (orange). This wave count will be invalidated if Minor Subwave ii falls below the start of Minor Subwave i at 3220.15 (the bottom dotted line in brown). It is an Elliott Wave Principle rule that wave ii cannot drop below the start of wave i.
The brown dotted lines show that the Minor Subwave ii has actually touched the 61.8% Fibonacci retracement level, but appears to be wanting to retest it, or maybe even go below it. The worsening US & China trade war is pressing down the STI’s attempt to recover. We can only hope for some good news soon to relieve the pressure.